In case you thought the sovereign debt crisis was over: “Portugal yields soar, underline euro worries”

The sovereign debt crisis is back! Actually, it never went away…

Portugal yields soar, underline euro worries
ECB comes off THE sidelines to buy Portuguese bonds

Proving that the euro zone’s sovereign-debt crisis is yet to be vanquished, yields on Portuguese government bonds continued to climb to levels viewed as unsustainable on Thursday, prompting the European Central Bank to intervene.

Yields on the 10-year bonds soared to a euro-era high of more than 7.6% at one point Thursday morning, according to strategists. The European Central Bank later intervened to buy Portuguese bonds, several analysts said, after staying out of the markets amid relative calm in recent weeks.

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