January 22, 2013 / 4:32 PM / 5 years ago

EURO GOVT-Portuguese yields at lowest in over 2 years

LONDON, Jan 22 (Reuters) - Portuguese 10-year debt yields fell to their lowest in over two years on Tuesday with investors buoyed by news the country was set to tap the bond market this week for the first time since it was bailed out in 2011.

Thomson Reuters service IFR reported that Portugal planned to reopen its benchmark October 2017 bond, according to a bank managing the deal, and has mandated Barclays, Banco Espirito Santo, Deutsche Bank and Morgan Stanley to manage the sale. The deal is expected to come to market as early as Wednesday, the bank said.

Portuguese 10-year yields fell as much as 25 basis points on the day to 5.85 percent -- the first time they have traded below 6 percent since October 2010.

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