The yield on Portugal's 10-year bonds is rising for the 10th straight session and has reached a new record high of 8.56 percent.
Portugal is in the grip of a debt crisis and can't afford that borrowing cost, making it likely the country will soon need to ask for a bailout like Greece and Ireland last year.
Portugal is due to repay a euro4.5 billion loan in April and has an almost euro5 billion bond repayment two months later _ a tall order for the cash-strapped eurozone nation.
Ernst & Young said in a report Monday it expected Portugal to accept a financial rescue package by June.
A general election is scheduled for June 5 after the government quit last month when opposition parties rejected its austerity policies.