Portugal sells 10-year bonds for first time since bailout


Portugal has sold €750M in 10-year bonds at a yield of 3.5752%, representing the return of the country to international debt markets after a hiatus following its €78B bailout in 2011.

Portugal's offering comes after Greece sold €3B in five-year bonds earlier this month.

"The story is the same as the rest of Europe," writes Joe Wiesenthal. "The market believes that governments have an implied backstop from the ECB, preventing default."

ETF: PGAL

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