Interest on Portugal’s borrowing climbs

Interest rates on Portugal’s 10-year sovereign bonds have gone up for bonds with two, five and 10 year maturities by just over 3% for 10-year bonds, similar to increases on national debt suffered by Ireland.

Today (Monday, May 20), interest stood at 3.136% compared to 3.130% on Friday for 10-year bonds. Interest on five-year bonds fell from 2.751% to 2.747% and two year bonds climbed to 2.969% from 2.946%.

Interest rates in Spain also rose across all maturities while Italian bonds climbed on short-term bonds and fell on two long maturity bond issues. Interest rates on Greek bonds increased on two and five year issues and fell on 10-year maturities.

Interest on 10-year German bonds — seen as the European benchmark — climbed to 2.519% from 2.515% on Friday.