For the first time since 2014, Portuguese sovereign credit risk has deteriorated to worse levels than its former Zika-infested, corruption-covered colony Brazil.
As Bloomberg notes,
Investors are betting Acting President Michel Temer will be able to pull the South American country out of its worst recession in a century, while Portugal’s outlook has worsened amid concern growth in Europe will slow.
“The local interim government seems to be headed in the right direction,” said Alvaro Bandeira, the chief economist at brokerage Modalmais in Rio de Janeiro.
Visualized…
via http://ift.tt/29zssTg Tyler Durden