The Portuguese DEBT AUCTION today went as well as could be contrived. While the EURO initially stuttered, by days end it had rallied and ended the day up 1 percent. Tomorrow, the Spanish raise cash through a DEBT AUCTION and the market there has been well set up to take what the Spanish government offers. Interestingly, it was the GREEK DEBT markets that had the largest rally as the GREEK TWO-YEAR NOTE dropped to 10.09 percent from 11.44 percent. The BUNDS were sold off as the safe haven status of German debt eased.