«A maior subida semanal desde 2012», refere o FT.
To put the move in context, it’s the worst day, and the worst week, since the depths of the eurozone crisis in January 2012.
Investors have been nervous about Portuguese bonds ever since a left wing alliance toppled the centre right government in November.
Now attention is focused on the possibility of a downgrade. Portugal only has one investment grade rating, from DBRS, and if it loses that its bonds will no longer be eligible for the European Central Bank’s QE programme which has provided a huge boost over the last year.
Hold on tight.