Novo Banco feud won't go away for Portugal

A long-standing dispute about how the Bank of Portugal handled the senior bonds of Novo Banco in 2015 reared its head again this week, as a group of influential asset managers refused to take part in a subordinated bond issue from Banco Comercial Português (BCP). But the boycott is yet to damage Portuguese financial institutions, with banks gradually restoring their access to the capital markets, writes Tyler Davies.