David Hauner

BofA Says Buy Russian, Hungarian Local Debt on Rate Reductions

Investors should buy Russian and Hungarian bonds denominated in local currencies and sell Polish debt as yields are set to decline further because of interest- rate reductions, Bank of America Merrill Lynch said.

BofA Says BRICs Are Back as It Recommends Emerging Bonds

Bank of America Merrill Lynch said investors should buy emerging market bonds and equities as the so-called BRIC nations of Brazil, Russia, India and China post the biggest improvement in growth this year.

Ruble Set to Strengthen on Free Float, Fiscal Cliff, BofA Says

The ruble will climb 1.5 percent against the central bank’s target euro-dollar basket by the end of next year as global growth concerns recede and Bank Rossii stops buying and selling currency to manage the exchange rate, according to Bank of America Merrill Lynch.

Russia to Follow Brazil in Cutting Rates This Year, BofA Says

Russia’s central bank will cut its main policy rate twice this year, reversing increases of borrowing costs in 2011, Bank of America Corp. said.

Beating Germany Makes Poland Haven 20 Years After Relief: Riskless Return

Polish bonds beat German bunds and U.S. Treasuries in risk-adjusted returns since Europe’s debt crisis started three years ago, indicating the country that restructured a $35 billion debt load two decades ago is becoming a regional haven.

Russian, Polish Economies to Slow in Coming Quarters, BoA Says

Economic growth in Russia and Poland will slow in the coming quarters as euro-area banks cut lending to meet stricter capital requirements, Bank of America Corp. said.

Emerging Junk Yields at High Show Record Bond Sales May Slow

The pace of bond sales by junk-rated emerging-market companies is poised to slow from record issuance in the second quarter as concern that the global recovery is faltering sends yields to the highest this year.

Emerging-Market Stocks Plunge Most Since May; Currencies, Bonds Retreat

Emerging-market stocks tumbled the most in seven weeks, currencies weakened and borrowing costs rose as Europe’s debt crisis worsened.

Israeli Protests Ease Prices, Giving Fischer Room on Rates

Israeli consumer protests have helped slow inflation, giving Bank of Israel Governor Stanley Fischer room for further reductions in the benchmark interest rate.

Bank of Israel ‘Has Room to Ease Policy,’ BofA Merrill Says

The Bank of Israel “has room to ease policy considerably going forward” based on inflation expectations, David Hauner head of Eastern Europe, Middle East and Africa economics at Bank of America Merrill Lynch in London, wrote in a report today.

"In both markets, we see scope for further declines in yields on rate cuts."

- David Hauner on Mar 21, 2013

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Poland

Yen Weakens Past 100 Per Dollar for First Time in Four Years

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U.S. Stocks Fall as Investors Weigh Plosser Comments

SoftBank Says Sprint Merger Will Save $3 Billion a Year

Jobless Claims in U.S. Unexpectedly Fall to Five-Year Low