Portugal Might Be Next
January 10th, 2011Via: AP:
Europe’s debt crisis flared up once again Monday, as Portugal’s borrowing rates briefly spiked to euro-era highs amid reports Germany and France are pushing it to accept outside help to avoid contagion to other countries.
The yield on Portuguese 10-year bonds — a key gauge of investor sentiment — touched a potentially unsustainable 7.18 percent at one stage Monday. It then fell back to 6.94 percent on speculation that the European Central Bank was intervening by buying bonds — yields drop as prices rise.
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