Hungary’s Bond Default Insurance Cost Rises to Three-Month High

The cost of insuring against default on Hungarian sovereign debt increased to the highest in three months.

Hungary’s five-year credit default swaps rose four basis points to 600 by 11 a.m. in London, the highest since Jan. 20, according to data provider CMA. The forint appreciated 0.3 percent to 296.4 per euro, set for a 0.4 percent gain this week.

Hungary remains in disagreement with the European Union over legislation which has blocked the start of talks on an International Monetary Fund bailout five months after Prime Minister Viktor Orban requested the aid.

To contact the reporter on this story: Andras Gergely in Budapest at agergely@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net

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