Free Trial

Bear Steepening Holds Momentum; CPI the Weekly Focal Point

HUNGARY
  • Local rates maintain bear steepening momentum at the open today, reversing yesterday's late-session pullback lower.
  • 20Y yields trading at October levels, approaching 2.80.
  • EUR/HUF trading lower this morning in line with a weaker greenback.
  • Now hovering above 360.66 support, 100dma (360.30) & 50dma (359.41).
  • Comments from FinMin Varga & AKK CEO will be watched for discussion of issuance and economic wellbeing today.
  • Weekly focal point remains Thursday's CPI print - expected to pick-up slightly to 2.8% vs 2.7% prior.
  • Price action should be dominated by $-side moves and tomorrow's NBP.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.