Vanguard FTSE Europe ETF (NYSEArca: VGK) was actually higher in the holiday-shortened U.S. session Wednesday despite concerns that Portugal may put Europe’s sovereign debt crisis back on the front burner.
“Having won praise for taking tough measures to restore the financial health of the eurozone state, Portugal’s government has been rocked this week by the resignation of two ministers who quit because of waning public support for its program of austerity,” CNNMoney reports.
VGK was fractionally positive on Wednesday while iShares MSCI Spain (NYSEArca: EWP) was off 0.2% at last check.
However, bond yields on Portuguese government bonds did spike on Wednesday.