WHOOPS: Analyst Says Sorry For Saying Portugal Was Going To Default, And Ruining Everyone's Morning

An analyst at High Frequency Economics has apologized for this morning’s incendiary research note which triggered a spike in fringe eurozone bond yields.

The analyst acknowledged (via FT Alphaville) that he missed a €6.1 billion IMF payout to Portugal on May 20th, which messed up his model and made him believe that Portugal did not have enough cash to pay its bills. “This was our mistake,” he/she writes.

Considering the reaction to the rumour earlier, a significant mistake.

Here’s the comment, via FT Alphaville:


Photo: FT Alphaville

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.