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.
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