PORTUGAL : the medium term outlook is bearish
​Portuguese politics are suddenly coming into the European limelight, as left-wing parties are rebelling against austerity measures. Technically, the Portuguese index is in a severe long--term downtrend. Most probably, the index will fall to new lows in 2016. Yields are also rising, but for the time being, it is not reversal. It is a counter-trend movement.
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