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The funny thing is that markets are rewarding countries for acknowledging the need for a bailout, the latest case in point being Portugal, where 10-year yields are coming in today.The rally comes as Financial Minister Fernando Teixeira dos Santos acknowledged the high-probability that the country will need a bailout, according to FT.
These comments follow yesterday’s comments from the country’s foreign minister that if a deal isn’t reached soon, leaving the euro is a possibility.
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