Wednesday, May 4, 2011

Portugal: Deal or no deal


Portugal © fintag

News comments:
First there is denial, then acceptance.

“There is no truth to these reports,” a government spokesman told the Financial Times. “There has been no pressure on Portugal to ask for assistance and we have no need to ask for a financial rescue.” (financial times Nov 26, 2010).

José Sócrates, Portugal's caretaker prime minister, said late on Tuesday he had reached agreement on a USD78bn (GBP69bn) bailout from the EU and the International Monetary Fund. (telegraph May 4, 2011)

Today's shorts:
Treasuries (bloomberg)

Today's longs:
Poor get richer (telegraph)

Spain to take lie detector test.