Romania Fails to Sell Debt for Third Time Since July
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Romania failed to sell five-year government bonds for the third time since July 1 as investors push for higher yields because of concern that tax increases will accelerate inflation.
The Finance Ministry rejected all bids for the 300 million lei ($91 million) in five-year debt it planned to sell, citing “unacceptable” yield demands, the Bucharest-based Banca Nationala a Romaniei said in an e-mailed statement today.