The yield on Portuguese five-year debt reached a euro-era record amid speculation the nation may be nearing a request for financial aid. Bunds rose for a third day as stocks fell after an earthquake struck northern Japan.
Ten-year Portuguese bonds fell for a fifth day. When asked whether his country was preparing to request a bailout, Finance Minister Fernando Teixeira Dos Santos said European leaders must understand the “seriousness” of the region’s debt crisis. He made the remarks at a press conference in Lisbon before a European summit later today. Spanish and Italian bonds jumped, while Irish and Greek securities fell.