Portugal in bond buyback

Lisbon trading: Portugal yesterday bought back million of euros in two government bonds maturing in the second quarter in a move to signal the country’s financial strength. The government has achieved spending cuts of 3.9 per cent in the last two months.

Lisbon trading: Portugal yesterday bought back million of euros in two government bonds maturing in the second quarter in a move to signal the country’s financial strength. The government has achieved spending cuts of 3.9 per cent in the last two months. The buyback followed Standard & Poor’s Ratings Services’ announcement earlier in the day that it was keeping the country on watch for a possible downgrade.

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