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"Portugal is not Greece," Credit Suisse insists in a research note. Despite recent political...

"Portugal is not Greece," Credit Suisse insists in a research note. Despite recent political turmoil, new elections aren't likely to show "material support" for anti-EU/ IMF parties and besides, "the context is different," as global growth is stronger and the OMT is in place. Furthermore, a current account surplus means "aggregate debt dynamics [are] sustainable," and a "relatively steep yield curve" suggests "little default risk in the short-term," the bank says. Two-year yields are at 5.9% versus 7.27% for the 10-year bond.
Comments (2)
  • markrpat
    , contributor
    Comments (197) | Send Message
     
    Well, that's a relief. I was worried that Portugal was in trouble. Material support will help me sleep much better tonight.
    4 Jul 2013, 11:42 PM Reply Like
  • HPBunker
    , contributor
    Comments (219) | Send Message
     
    Don't forget that the OMT is solidly in place, even though it doesn't actually exist.
    5 Jul 2013, 12:34 AM Reply Like
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