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Hungary Yields Rise for Fifth Day Before Auction as Forint Drops

Hungary’s bond yields rose for a fifth day before an auction today and the forint weakened.

The Debt Management Agency will offer 42 billion forint ($180 million) of bonds maturing in 2015, 2017 and 2022 at its biweekly sale, according to data from the agency on Bloomberg. The yield on 10-year bonds rose 11 basis points, or 0.11 percentage point, to 8.585 percent, the highest since April 24, by 10:40 a.m. in Budapest.

The currency of Hungary, the European Union’s most indebted eastern member, retreated 0.2 percent to 295.96 per euro, increasing the depreciation in the past five days to 2.4 percent.

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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