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March 28, 2023

Yields of Romanian state bonds in foreign currency, at record lows

The yields of Romanian EUR-denominated state bonds maturing in 2018 dropped Friday by 27 basis points (0.27 percent points) to 4.068 pc, which is the minimum value ever recorded. During the entire week, the yield lost 57 basis points, more than half percent point, Mediafax reports. For USD-denominated bonds maturing in 10 years, the reference yield decreased by 17 basis points (0.17 percent points) to 4.284 pc, thus hitting a new bottom. Last week, the decline of the financing cost in USD decreased by 51 basis points, respectively 0.51 percent points. The bonds issued by the Polish government, denominated in foreign currency and maturing in 2018, have a reference yield of 1.899 pc, while Turkey’s debt has a yield of 3.345 pc. “Romania enjoys solid demand on the credit markets of Central and Eastern Europe. Idiosyncratic risks have subsided in Romania of late and we anticipate that the positive evolution will continue,” analyst Andreas Kolbe of British bank Barclays commented for Bloomberg. The RON appreciated Friday on the interbank market by 0.1 pc against the European currency, reaching 4.56 RON/EUR.

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