Investors demand premium for Portuguese debt

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Investors charged Portugal a higher yield on the €750m-worth ($1 billion) of funds it raised on Wednesday owing to Lisbon's lack of progress in curbing spending.

The Instituto de Gestão da Tesouraria e do Crédito Público (IGCP), Portugual's debt management office, said it sold €750 million ($1 billion) of four- and ten-year notes on Wednesday morning, €250m less than the highest amount prescribed for the auction. However, the results show the cost of raising funds nonetheless rose by almost a pe

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