Snap4 April 2019Updated 8 seconds ago

Romania Briefing

EUR/RON drops further on high carry

Reuters
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.

Reuters, Bloomberg, ING
Reuters, Bloomberg, ING

Reuters, ING estimates
Reuters, ING estimates