News Summary: Portugal sells 10-year bonds

News Summary: Portugal sells bonds for first time since bailout avoided financial collapse

Associated Press

BONDS SOLD: Portugal sold 10-year bonds Tuesday for the first time since it needed a bailout in 2011, raising 3 billion euros ($3.9 billion). Foreign investors bought 86 percent of the bonds.

MILESTONE: The bond sale was seen as a milestone in efforts to restore investor confidence in the frail eurozone country and prove that contested austerity policies are paying off.

EAGER TO MOVE ON: Though Portugal remains a ward of its bailout creditors and a full economic recovery will still take years, its success on international markets was a welcome sign for European leaders eager to put a three-year financial crisis behind them.

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