Portugal tumbles on bank worry

Lisbon's PSI index is off more than 2% and government bond yields are spiking over reports of a proposed debt restructuring by the holding company behind Banco Espirito Santo - the country's largest listed bank.

Espirito Santo International has been under scrutiny since an audit found "material irregularities," and Banco Espirito - off 6.2% today - is lower by 45% over the last month.

Portugal's 10-year government note yield is up 19 basis points on the session to 3.84%.

Comments (5)
  • samuraitrader
    , contributor
    Comments (883) | Send Message
    the down move is going to happen real fast in so many markets. once the herd changes direction the liquidity dries up.
    9 Jul 2014, 09:09 AM Reply Like
  • capitolp
    , contributor
    Comments (716) | Send Message
    All they got to do is offer bonds 24 hrs a day, Dave's Bail Bonds has all the business he wants, Quick, somebody call Pimpco, I mean Pimco.
    9 Jul 2014, 09:24 AM Reply Like
  • Deja Vu
    , contributor
    Comments (1817) | Send Message
    When the face of the country is a soccer star pushing Herbalife, what else can you expect...
    9 Jul 2014, 09:42 AM Reply Like
  • mitrado
    , contributor
    Comments (2033) | Send Message
    No Regulation = Failing Banks. What else is new?
    9 Jul 2014, 11:42 AM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2954) | Send Message
    Been a bad 24 hours for the Portuguese speakers...whether in Portugal or in Brazil.
    9 Jul 2014, 01:39 PM Reply Like
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