According to the Portuguese newspaper "Publico", the Portuguese Treasury and Public Credit Management Agency successfully auctioned 750 million euros of 10-year government bonds, with strong market subscription and an average yield of 3.58%, setting a record low, with a subscription multiple of 3.5, marking the first time since 2011 that 10-year government bonds were issued without a syndicate underwriting.
Analysts believe that although the Portuguese government has not yet decided how to exit the international bailout program, the results of this auction indicate a step closer to emulating Ireland's "naked exit" goal.
Source: Economic and Commercial Counsellor's Office in Portugal
