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Portugal Sells 10-Year-Bonds, Borrowing Costs Fall

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Bloomerg link

Portugal sold 599 million euros ($778 million) of bonds due in 2020 at a yield of 6.716 percent, the country’s debt management agency said today. That compares with 6.806 percent at the previous auction on Nov. 10. The government also placed 650 million euros of bonds due in 2014 at a yield of 5.396 percent, up from the 4.041 percent on Oct. 27.

Has the corner been turned?

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Portugal's banks buying?

The miracle of the Irish bailout finally working?

must be temporary fix, as Doomberg reports teh ECB are working on a bailout plan.

nudge me awake if the plan isnt Lend them some more printed money please.

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It all rather depends on who was doing the buying, who they were buying for, whose money they used and whether they had any expectation of ever getting it back

Yes, I am sure that the ECB will be entirely open about their bond purchases, if they have made any at all. Which they probably havent as I understand everyone is chomping at the bit to get a piece of debt from such a well managed economy with no discernible deficit.

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