Stocks, eurozone government bonds and the euro started the week under pressure while US Treasuries rose, as investors awaited details of Greece’s debt restructuring and European Union leaders met in Brussels. In addition, a full return to action for Asian markets, after the lunar new year holiday, delivered a downbeat tone, with investors disappointed that the Chinese authorities have not eased monetary policy in the manner some had expected, and as the region got its first chance to price in softer than forecast US fourth-quarter GDP data, according to the FT’s Global Markets Overview. The FTSE All-World equity index is down 0.7 per cent and the FTSE Eurofirst 300 is enduring a loss of almost 1 per cent as traders shift some funds away from growth-focused bets, after their recent good run, and into perceived havens. Wall Street’s S&P 500 retreated 0.3 per cent to 1,312.78, paring losses after bouncing off the 1,300 mark. The FT separately reports that a jump in Portugal’s borrowing costs also shook markets as the country’s bond yields reached new euro-era highs as many investors priced in a Lisbon default amid fears its debt holders could suffer heavy losses once a restructuring deal with Greece is agreed. Bloomberg reports that Greece faced criticism at the summit in Brussels for not implementing reforms and austerity plans promptly enough. Read more