Portugal bond yields rise after top court rejects budget cuts

LONDON: Portuguese government bond yields rose on Monday after its supreme court rejected several austerity measures in the government's 2014 budget.

Benchmark 10-year yields rose 7 basis points to 3.72 percent, with weakness also seen in other euro zone peripheral government bonds.

"It's a disturbance to the market, a reminder that it is not so easy to get these countries back on track," said Luca Jellinek, European head of fixed income at Credit Agricole.