Portugal’s parliament is debating a big austerity package. There had been rumours that the vote would be delayed after the opposition said yesterday that it would vote NO. It’s happening today, however.
In the meantime, as the market tries to read the smoke signals coming out of Palácio de São Bento, the yield on the 2-year is going nuts. First it was up big, then flat, then up… who knows where it will stop! Click here for the latest. (via @Dutch_book)