Original Post: Another big move higher in 2-year Portuguese bonds today.
In fact, at a yield of 8.172%, they’re now yielding more than 10-year Portuguese bonds, which offer 8.102%.
Paging the IMF…
As for other markets, things are fairly quiet. Japan ended higher. Shanghai ended down just less than 1%.
US futures aren’t doing a whole lot, but there’s a lot of news coming out today, so it could all change fairly easily.
Update: The rout gets even worse, as 2-year yields hit 8.233%.
Update 2: And things get even worse following news that the 2010 budget deficit came in at 8.6% of GDP vs. 7.3% goals.
2-year yields are up to 8.291%.