News Headline Summary

Portuguese/German 10y bond yield spread seen wider by 15bps or 3% in early trade as market participants react to Portugal's constitutional court decision to reject some austerity measures in the 2013 budget...

Analysis details (08:20)

- The PM said the court’s rejection of planned austerity measures posed a serious risk to Lisbon’s ability to comply with the adjustment programme and its effort to regain access to international bond markets by a September deadline.
- However the European Commission said it trusts that the Portuguese Government will swiftly identify the measures necessary to adapt the 2013 budget in a way that respects the revised fiscal target as requested by the Portuguese Government and supported by the Troika in the 7th review of the programme.

08 Apr 2013 - 08:18 - - Source: RANsquawk

Subscribe Now to RANsquawk

Click here for a 1 week free trial

RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: