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FIGGY

Portugal 10Y Bond Now At The Highest Since Joining The Euro – 7.6%

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No link as it comes from a trading report I get but:

Cost of financing Portuguese deficit rises In a reminder of what can happen when the international debt markets begin to question the security of their investments, the cost of Portuguese 10-year bonds rose to 7.6% yesterday, their highest level since the country joined the Euro. The Portuguese government has said that it has no concerns about continuing to tap debt markets going forward.

Not really sure how they are not concerned when all commentators have suggested 7% is the tipping point!

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Some nice links for your bookmark bar - 10YR gilts for each country. These are not easy to find in a list - I like to keep an eye on them, and it certainly looks nicely contained from the graphs.

Portugal

portugal

ireland

ireland

spain

spain

greece

greece

UK

uk

Germany

schnitzel

harumph,

this is the link I use to check the yields. It doesnt look good for Portugal.

http://tickerforum.org/akcs-www?post=135432

Also interesting to see the race upwards in yields across Europe. France is trying to overtake the UK, and we arent in the best of shape. Belgium looks like its own yields might become intolerable all too soon. The Italy vs Spain race is a good one too, keep your eye on that. Even Germany seems to want in on the fun. I reckon that some have realised that if German banks collapse, the government there will be forced to borrow like crazy to try and bail their own banks out.

And lets not forget the US. The US 10 year is the biggest one of all. If that keeps on ascending, we are going to see revolutions in Western Countries, with or without that big volcano in Iceland blowing up.

Edited by leicestersq

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Euro Plunges On Fears Of Senior Bondholder Impairments At WestLB

Euro down, piggy yields up.

Everyone knows what happens if Germany pulls the plug.

Why do you assume that Germany can 'pull the plug'? Do you mean if they go back to the Deutshe Mark?

I am expecting that they will, they must be getting ready to do that. I am sure that Hawk from Germany who was due to takeover the ECB must have been the final straw for the Germans. I cant see them being happy about letting the PIGS loose on that ECB press. Their only option is to get out.

Makes you wonder when you look at the futility of if all, why our government is wading in sending good money after bad?

The sooner they let the whole thing collapse, the sooner we can pick ourselves up again.

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Portugal looks certain to be bailed out, 7%+ they save money by using the bailout fund, it no longer makes sense for them to issue debt. ECB were buying last week when it hit 7.6%~ now at 7.4% again already. Like Greece, a bailout only buys time, they need to get descent levels of growth to have a hope in hell of avoiding debt restructuring eventually.

Spain looks doomed as well, same problem as us, ludicrous house prices and lending leading to an insolvent banking / construction industry. They need to devalue badly so growth and unemployment pick up.

Interesting AEP who is a euro mega bear wrote a positive piece on Spain today in the telegraph. Probably realised the € going down will take us down as well. We need a solid € for our own recovery. Interested parties like the Chinese etc will probably support rather than let loose the havoc of the € collapse, as seen by the huge € bounce off EUR/USD €1.28 in Jan.

Bottom line, PIGS need solid growth and job creation or they and the € are doomed no matter how much bailing out is done.

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Portugal has a track record of spanking all their money. In the 17th/18th century they were one of the richest countries in the World with money from the New World. However, they managed to spank the lot on some (very nice) monuments, palaces, monasteries etc.

When I lived there they seemed pretty bent on this course again!

Edited by Charlie Don't Surf

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harumph,

this is the link I use to check the yields. It doesnt look good for Portugal.

http://tickerforum.org/akcs-www?post=135432

Also interesting to see the race upwards in yields across Europe. France is trying to overtake the UK, and we arent in the best of shape. Belgium looks like its own yields might become intolerable all too soon. The Italy vs Spain race is a good one too, keep your eye on that. Even Germany seems to want in on the fun. I reckon that some have realised that if German banks collapse, the government there will be forced to borrow like crazy to try and bail their own banks out.

And lets not forget the US. The US 10 year is the biggest one of all. If that keeps on ascending, we are going to see revolutions in Western Countries, with or without that big volcano in Iceland blowing up.

thanks Mr Square, very useful!

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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