Portuguese bond yields fell to their lowest level since before the country sought its euro-zone bailout, after the European Central Bank cleared the way for potentially unlimited purchases of government debt.
An hour after the ECB?s chairman, M?rio Draghi, announced plans for a new bond-buying programme that officials hopes will draw a line under the euro-zone debt crisis, the yields on 10-year Portuguese government debt were at 16-month low of 8.878%.
Bond yields indicate what a state must pay investors to borrow money for 10 years.
Under the bailout plan, Portugal is due to return to the market a year from now, but there are widespread doubts among investors and economists about whether that is feasible.
In his statement at the ECB?s headquarters in Frankfurt, Draghi made clear that the bank would only buy Portuguese government debt once the country returns to the markets.
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Photo by Boris Roessler/EPA
Source: http://www.portugaldailyview.com/whats-new/debt-portuguese-yields-slide-on-ecb-bond-buying-news
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