Portugal Bond Yields Hover Near Brexit Highs As Bank Bosses Quit Ahead Of Bailout

Portuguese bank bonds (Novo Banco and Caixa Geral de Depositos) are sliding today with sovereign yields hovering near Brexit highs as AP reports that the new president of the country’s biggest bank (and six board members) have quit less than three months after starting work.
Back in the summer we warned that with all eyes on Italy (and rightly so), Portugal could be the next show to drop, and yields have risen notably since then
And now, as AP reports, the troubles at Portugal’s biggest bank by assets, state-owned Caixa Geral de Depositos, are deepening as its new president and six board members have quit less than three months after starting work.

This post was published at Zero Hedge on Nov 28, 2016.