WAKE UP: Portugal Is Back In The Danger Zone And European Markets Are Slipping

ronaldo portugal

A report from the WSJ warns that the IMF may require Portugal to present financing plans a year ahead of time to pay back debts in September 2013. Traders warn this may force Portugal to accept a second bailout.

Portugal 5-year credit default swaps increased to a record 1265 basis points.

European markets are slipping, led by the Dax down 1%.

Much of Asia is closed for the Chinese New Year.

Dow futures point to a negative open.

[Correction: This post previously quoted Shanghai and Hong Kong’s Friday close.]