Details of the Portuguese bailout are still being worked out, an EZ source tells Reuters. The package is seen between EUR 75-90 bln depending on the needs of the banks…
Hopes for a quick ECB hike and the ever-growing funding needs for bailouts are pushing German yields higher. 2-year German paper is now yielding 1.93% versus only 0.61% for equivalent US paper.
Old resistance in the 1.4900/05 area acted as support on the recent EUR/USD dip.
