Portuguese yields spike on Gross tweet

Author: Jamie Coleman | Category: News

Author: Jamie Coleman

Yields are 15 bp firmer on the day after Bill Gross opined that Portugal will need a debt restructuring.

Yields are at 11.99%.

EUR/USD continues to find buying just ahead of the 10-day moving average at 1.3295, now trading at 1.3311.

If we don’t break 1.3300 soon, look for a short-covering rally on a break above 1.3325. Sellers return toward 1.3350/55.