Portuguese yields steady ahead of €500m bond auction

Portuguese 10-year government bond yields were steady in early trading, ahead of a €500m bond auction by the country's government later today.

The auction will be closely watched by investors as concerns have heightened in recent weeks that Portugal could be the next country to require an EU bail-out, the Financial Times reports. Comments made late yesterday by Jean-Claude Trichet, president of the European Central Bank, that the central bank could step up its purchases of eurozone bonds have helped stabilise European sovereign debt markets across the Eurozone, reports the Financial Times. On Tuesday, Trichet left open the possibility of the bank significantly expanding its government bond purchases, warning markets not to u...