Friday, November 19, 2010

Portugal Next Piig to Become IMF Bacon?

All indications are that next on the PIIGS crisis list after Ireland is Portugal.

10 year bonds in Portugal yield 6.25% (Ireland's are at 8.25%). The spread on Portugal debt versus German bunds is 408 basis points. 

Portugal has roughly 10 billion euros of debt that comes due during the first half of 2011,

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