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Portugal Political Crisis Increases Borrowing Costs

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Portugal’s borrowing costs have risen sharply amid fears of a growing political crisis in the country.

Yields on the country’s benchmark 10-year bonds moved above 8% in early trading, while the stock market fell more than 6%.

Earlier this week, the resignations of two leading ministers put pressure on Portugal’s coalition government.

The European Commission President, Jose Manuel Barroso, said he was following the situation “with concern”.

Portugal received a bailout worth more than 78bn euros ($102bn; £67bn) in May 2011, on the condition it implemented austerity measures.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza

@alfonso_forex

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