Portugal Bond Yield Hit Record Level

Portugal’s two-year cost of borrowing hit the highest level since it joined the euro in a bond auction on Wednesday, and the government said yields were unsustainable in the long run without Europe-wide action. The yield on the September 2013 bond soared to 5.993 percent from 4.086 percent in an auction last September, also surpassing the 5.396 yield in the sale of a longer-dated October 2014 paper in January. – Reuters

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