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Portugal T-bill yield rises after ratings cut

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Portugal T-bill yield rises after ratings cut

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Portugal’s borrowing costs rose on Wednesday in an auction of government bonds maturing in three-months time.

The amount of interest Lisbon had to offer to encourage investors to longer-term buy bonds soared.

The auction was held hours after Moody’s slashed the country’s credit rating and warned it may need a second bailout.

Analysts are not worried about the three month Treasury bills but expressed concerned about longer term bonds.