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

|By:, SA News Editor

"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.