Briefing Romania
Buying interest for Romanian government bonds resumes
Source: Reuters
EUR/RON
The Romanian leu remained the regional outlier yesterday, with both the Polish zloty and Hungarian forint regaining some of the lost ground while the EUR/RON moved slightly higher, closing just below 4.7300. We see the pair stable today around 4.7300.
Government bonds
The weak US data triggered a mini rally yesterday, with ROMGBs among the beneficiaries. The back-end of the yield curve shifted 5-6 basis points lower, with the 10Y again on the brink of sliding below 4.00%, which should happen sooner rather than later in our view.
Money market
It’s back to business as usual on the money market as cash rates stay anchored around the 2.50% key rate.
Source: Reuters
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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
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