The Portuguese Debt Rout Gets Even Worse, As Deficit Forecast Is Way Worse Than Estimates

Original Post: Another big move higher in 2-year Portuguese bonds today.

In fact, at a yield of 8.172%, they're now yielding more than 10-year Portuguese bonds, which offer 8.102%.

Paging the IMF...

As for other markets, things are fairly quiet. Japan ended higher. Shanghai ended down just less than 1%.

US futures aren't doing a whole lot, but there's a lot of news coming out today, so it could all change fairly easily.

Update: The rout gets even worse, as 2-year yields hit 8.233%.

Update 2: And things get even worse following news that the 2010 budget deficit came in at 8.6% of GDP vs. 7.3% goals.

Join the conversation about this story »

See Also:

• Early Estimates On A Portuguese Bailout Say It May Need As Much As $113 Billion
• Remember How The Portugal Austerity Vote Was Going To Destroy The Euro?
• Portugal Situation Deteriorating As Debt Downgrade Sends Yields Through The Roof

Full story at http://feedproxy.google.com/~r/businessinsider/~3/hKcBKkowwsU/portuguese-debt-crisis-hits-new-level-as-yield-curve-goes-inverted-2011-3