Hungary Bonds Fall 7th Day as Central Bank Rows With Government
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Hungary’s bonds tumbled for a seventh day, lifting five-year yields to the highest since September 2009, as a row between the central bank and the government over interest rates undermined investor confidence.
The yield on government bonds in forint due February 2015 rose 5 basis points to 8.23 percent as of 5:45 p.m. in Budapest. The cost of insuring Hungary’s debt against non-payment climbed to the highest since June. The forint, the world’s worst-performing currency in November, appreciated 1.1 percent after tumbling 3.2 percent in the previous three sessions.