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Risk Off Sentiment Has Led To a Sharp Retracement in LT Bond Yields

HUNGARY
  • This week’s risk off sentiment was associated with a sharp selloff in LT Hungarian bonds.
  • The 10Y yield is up over 50bps, gradually approaching its key resistance at 8.60%.
  • Next level to watch on the topside stands at 9%.
  • On the downside, support to watch stands at 8%, followed by 7.60% (23.6% Fibo, 50DMA).

Source: Bloomberg/MNI

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