The debt situation is getting worse in Portugal this morning, just hours after the country was downgraded two notches by S&P.The yield on the country’s 10-year debt is now at 7.786% and the two-year yield is nearly at 7%, according to Bloomberg.
Beyond the downgrade, markets are beginning to sense that a bailout for the country is inevitable. European Union leaders continue their meetings in Brussels today.
There has been no official talk of a bailout as of yet, but if the debt situation, notably short-term debt, continues to worsen the chatter will likely begin.
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