If Athens cries, Lisbon doesn't laugh. On the contrary. THE Five-year CDS on Portugal's debt returned to record levels today of last April. According to data released by the Dow Jones agency, Portuguese insolvency insurance certificates hit i 1.310 basis points. This means that $10 million a year is needed to insure $1,31 million of Portuguese debt.
Meanwhile the Portuguese 14.05-year bond reached a yield of XNUMX% on the secondary market, up 37 basis points from Tuesday's close. Yesterday, Prime Minister Pedro Passos Coelho said Portugal would not ask for a renegotiation of its 78 billion euro bailout package. A statement that seems to disprove fears about the real possibilities for the country to return to the market with its bond issues by 2013.
