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15 Minute Call to the NBH – Hawkish Guidance Needed for Fresh HUF Catalysts

HUNGARY
  • Hungarian bonds trade slightly weaker in the lead-up to the NBH meeting with the curve bear flattening +2bp in line with expectations for further policy tightening
  • EUR/HUF trades -0.14% lower, but relatively subdued in the lead up to the meeting with +30bp mostly priced in over the prior sessions.
  • NBH will need to deliver over and above hawkish expectations to add to HUF appreciation momentum
  • Markets still pricing +71.5bp in 3x6 FRA-Mosprime Spreads over a 3-6m horizon

  • 3x6 FRA-Bubor Spreads


MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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