Portugal Bears Brunt of Bond Selloff With Yield at 2014 High
- Euro-area finance ministers to review nation's budget Thursday
- Minority Socialist government to reverse state salary cuts
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Portugal’s 10-year bonds plunged, pushing the yield to the highest level since the country exited its bailout program in May 2014 and adding pressure on Prime Minister Antonio Costa less than three months after his minority Socialist government took office.
The security fell for a sixth day Thursday, pushing the yield up to 4.53 percent, the highest since March 2014. It was at 2.30 percent just before an inconclusive Oct. 4 general election and peaked at 18 percent in 2012 at the height of the euro region’s debt crisis.