Romania
Romania Briefing
EUR/RON drops further on high carry
Source: Reuters
EUR/RON
The EUR/RON dropped further on below average turnover, closing near 4.7550. Carry remains high and we could see a test lower at 4.7500 today.
Government bonds
The ROMGBs curve continued to bear flatten post NBR firm liquidity management commitment with the front-end under selling pressure, while the long-end was little changed. MinFin auctions today RON200m in Sep-31 bond, the longest maturity on the curve, which could see a cut-off yield around 5.30%.
Money market
Funding implied yields stabilised at around 4.35% yesterday, with the 3M-1Y segment still inverted.
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
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