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Portugal auctions 10-year debt at record low yield

Page created: Wednesday, 8 November 2017 15:34 GMT

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Debt  Government Debt  Lisbon  Yields

Portugal on Wednesday auctioned €1.25bn in 10-year government debt at an average yield of 1.94 per cent, the lowest yield on record for an equivalent bond sale by the former bailout country. The previous lowest yield in an auction of 10-year Portuguese debt was 2.04 per cent in February 2015. In the most recent previous sale of 10-year government bonds on October 11, Lisbon paid a yield of 2.33 per cent. “This was a phenomenal result and something we never expected to see,” said João Queiroz of Banco Carregosa, a Lisbon-based bank. “It means strong interest payment savings for the country and will lower the average cost of the national debt”.