Portugal Sells Maximum 1 Billion Euros of Bonds as Demand Rises

Portugal sold 1 billion euros ($1.3 billion) of 10-year bonds, getting more demand than at previous auctions, as it benefited from the European Union’s unprecedented aid plan for the region’s most indebted countries.

The Lisbon-based Treasury issued the 4.8 percent bonds due 2020 to yield 4.52 percent, 181 basis points below the record reached last week at the height of the crisis, the nation’s debt agency said today. Investors bid for 1.8 times the amount on offer, up from 1.6 times at the previous two auctions. Portugal aimed to raise 300 million euros to 1 billion euros at the sale.

Bloomberg

Content 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 Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell