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10Y Yield Approaching 5.5% Resistance

HUNGARY
  • CEE term structures have shifted to the upside in recent days as market participants have been pricing in further rate hikes to tame inflation.
  • The weakness in CEE currencies has been supporting inflation expectations, which policymakers have defined as a ‘public enemy’.
  • Hungary 10Y yield has been retracing sharply higher in the past week, gradually approaching its ST key resistance at 5.5% (April 2014 highs).
  • On the downside, support to watch stands at 5%, followed by 4.9% (LT upward trending support line).

Source: Bloomberg/MNI

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