Hungary Faces Highest Yields at Bill Auction in 2 1/2 Years
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Hungary’s Treasury-bill yields rose to the highest level in 2 1/2 years before an auction today as concern the International Monetary Fund and the European Union won’t resume aid talks pushed the forint to a record low.
The government is offering 45 billion forint ($180 million) in one-year bills, data from the Debt Management Agency on Bloomberg show. The yield on existing Treasury bills with the same maturity increased 20 basis points to 8.8 percent yesterday, the highest since July 2009, according to generic prices compiled by Bloomberg. The forint weakened 1.1 percent to an all-time low of 324.07 per euro by 9:54 a.m. in Budapest.