From Bloomberg: Portugal Said to Need as Much as $99 Billion in Bailout

A bailout for Portugal may total as much as 70 billion euros
($99 billion), said two European officials with direct knowledge of the
matter. A financial lifeline would be between 50 billion euros and 70 billion euros … Portugal has not yet asked for a bailout.

It appears a bailout is inevitable and imminent. Here are the 2 year (6.7%), 5 year (8.2%) and 10 year (7.7%) yields on Portuguese government debt – all at new highs.

Watch Ireland too – the Irish ten year yield is near 10%.