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Why MNI
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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.
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Free AccessHUF Strength and Risk On Keep Supporting Equities
- In the past 2 months, we have seen that the global risk on environment combined with the HUF strength have levitated Hungarian equities to new all-time highs, with BUX Index breaking above its 46,277 resistance this month and currently trading above the 48,000 level.
- The chart below shows a moderate co-movement between USDHUF (inverted) and BUX index; periods of currency strength have been associated with strong momentum on HUF.
Source: Bloomberg/MNI
- Interestingly, even though Hungarian equities are trading at an all-time-high, they appear 'cheap' relative to other EM markets.
- PE ratio of BUX index currently stands at 13.83, the third 'cheapest' equity market after Turkey and Russia (which are two very risky markets due to the elevated political and economic uncertainty).
Source: Bloomberg/MNI
To read the full story
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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.