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SSASovereigns

Portugal cuts short term burden as Italy prepares to break record

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Portugal finished off its funding business for 2014 by easing its redemption burden over the next two years by just over 10% via an exchange offering on Wednesday. Italy looks set to break its 10 year euro-era yield record at auction on Thursday — and had the best possible preparation for the sale by cutting its short term borrowing costs at auction a day earlier.

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