BofA’s Doan Says Hungarian Bonds to Rally on Bid to Join Euro

The incoming Hungarian government is quickly taking its first steps to prepare the country to join the euro region, boding well for prolonging its steep bond rally, according a Bank of America Corp. economist.

BofA maintains a “very constructive bias” on Hungarian securities, expecting an array of fresh impulses for the market as the euro accession process planned by Peter Magyar unfolds, economist Mai Doan told Bloomberg News.