HALISTER1: UniCredit Sees Romania Bond Slump, Leu Staying Weak on Politics

UniCredit Sees Romania Bond Slump, Leu Staying Weak on Politics

(Bloomberg) -- Local-currency bonds due in 5-10 yrs will be pressured if Social Democrats win more seats than other parties in local elections Sunday, UniCredit analyst Dan Bucsa writes in e-mail.
  • Leu weakened by “seasonal capital outflows” may also suffer
  • Forecasts currency will stay above 4.5/EUR “until the political situation becomes clearer”
  • NOTE: Leu little-changed at 4.5183/EUR Friday
  • “Clear win” for Social Democrats would bode ill for technocrat govt
  • NOTE: Shopping Spree Sounds Overheating Alarm for Romanian Economy
  • NOTE: Romanian Graft, Bureaucracy Clash Stalls Investment, EBRD Says
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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Dan Bucsa (UniCredit SpA)

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