After Hungary’s once-largest creditor Franklin Templeton sold most of its holdings last year, the trickle of investors exiting the nation’s debt continues as the National Bank of Hungary looks to rein in rate-cut expectations that fueled the best return on bonds this year among peers. Forint-denominated government debt held by foreigners fell to 3.56 trillion forint ($12.7 billion) as of May 13, the lowest in five years, according to the most recent data available from the nation’s debt agency.

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