Romania
Briefing Romania
Stronger Romanian leu on inflows into government bonds
Source: Reuters
EUR/RON
The EUR/RON failed to close below 4.7300 yesterday on another day of heavy turnover. We see a 4.7250-4.7400 range for today with a downside bias as risk-on sentiment prevails after recent signals from Fed speakers.
Government bonds
The bull flattening in the ROMGB curve continued yesterday with long-end yields dropping by another 4-5 basis points.
Money market
Implied cash rates inched around 60 basis points higher to 2.85%. The forward yield curve flattened as 1y implied yields dropped around 10 basis points to 3.80%.
Source: Reuters, Bloomberg, ING
Source: Reuters, ING estimates
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This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
This publication has been prepared by ING solely for information purposes irrespective of a particular user's means, financial situation or investment objectives. The information does not constitute investment recommendation, and nor is it investment, legal or tax advice or an offer or solicitation to purchase or sell any financial instrument. Read more
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