Hungary’s yields fall to record low
Hungary’s bond yields fell to a record as the European Union cut its forecast for the euro area, spurring speculation policy makers will need to bolster measures to revive economies. Yields on the government’s 10-year forint notes dropped 13 basis points, or 0.13 percentage point, to 5.065, Bloomberg said. The economy of the euro-area, Hungary’s biggest trading partner, will shrink more than previously expected in 2013, while the EU’s eastern member may grow 0.2% after contracting 1.7% last year, the European Commission said today. European Central Bank President Mario Draghi signaled yesterday that further reductions in rates were possible after cutting the main rate to a record 0.5%. The cost of insuring Hungarian bonds against non-payment fell six basis points today to a three-month low of 278, according to credit-default swap prices compiled by Bloomberg.
ADVERTISEMENT
Investment Volume Falls 2.8% in Q1
Parl't Approves Amendments to Legislation on Judiciary
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
