Portugal Bond Yields Hit Record Level

Growing concern over Portugal’s ability to meet its debt obligations has forced the yield on Portugal’s 10-year bond to a record 7.6 percent on Thursday before falling slightly to 7.3 percent. This is a clear indication that the market remains unconvinced that Portugal is on track to avoid the need for emergency funding.

At its last meeting on March 11th, the EU failed to arrive at a plan for dealing with Portugal’s debt problems. The next meeting is scheduled for March 25th and it is expected that a detailed proposal will be crafted as part of the summit.

Source: The Associated Press

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.