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PM Pedro Passos Coelho (foto) cannot rest easy...as Lisboa's 10 year bond costs continue to soar..by 200 bps...in just 2 weeks...and worries grow that it will need a second bailout.
It received E78 billion/$103bn in May 2011.
The current yield on Portugal's 10 year is 13.83%.
Last year at the same time...it was 7.48%.
But...they have declined since 31 January's 18.29%.
Its bonds are rated as 'junk' by all 3 agencies.
And...its austerity measures...as dictated by the ECB/IMF...are reportedly on track.
But...a JP Morgan expert says: "The Portuguese 10-year yield is near 15%. No one goes to the market at that level. Once your yields go above 8%, there's no turning back."
