Hungary beats Q1 spreads for $2bn of 2014 pre-funding
Hungary printed its $2bn 5.75% 2023s on Monday at a spread 20bp inside the price of its last 10 year deal in February, the peak of emerging market bullishness this year. Though yields were wider as a result of US Treasury bond moves, the note and its $9.7bn order book demonstrated the ongoing appetite for EM bonds even after the summer sell-off.
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