Romania’s Treasury returned to the longer-term bond market with a successful 62-month issue on May 29, when the yield was set just below 7.5% – close to the level seen on April 14 before the elections, when the same bond was opened.

On April 30, also before the May 4 presidential ballot that prompted anxiety among investors due to the isolationist candidate’s high score in the first round, a 112-month bond was issued at a 7.4% yield. 

From May 4 until May 19, when the pro-EU candidate won the runoff, the Treasury relied on shorter-term or foreign currency issues, and it accepted paying an 8.45% yield for a relatively short maturity (14 months).

iulian@romania-insider.com

(Photo source: Vlad Ispas/Dreamstime.com)