Elisabeth Gruie News
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Hungary’s longest-dated bonds fell the most in more than a month after inflation accelerated more than expected in March.
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Emerging-market stocks rose, driving the regional benchmark index to its longest streak of gains in five months, on speculation China’s interest-rate increases will promote lower-inflation economic growth.
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Emerging-market stocks rose, driving the regional benchmark index to its longest streak of gains in five months, on speculation China’s interest-rate increases will promote lower-inflation economic growth.
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The Turkish lira weakened, snapping a three-day rally, and stocks dropped after Spain’s rating was downgraded by Moody’s Investors Service and violence in Libya drove up oil prices.
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The shekel, up 3.7 percent this year, may strengthen further as the Bank of Israel raises interest rates, according to BNP Paribas SA.
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Estonia tomorrow becomes the first former Soviet republic to join the euro, putting at least a temporary cap on the currency bloc’s expansion as the sovereign debt crisis ripples through Europe.
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The Czech koruna is poised to weaken 2.2 percent as elections starting today may fail to produce a government with enough support to tackle the 163 billion-koruna ($7.8 billion) budget deficit, according to BNP Paribas SA.
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Estonia celebrated its entry into the euro with a midnight fireworks display, shrugging off the sovereign debt crisis rippling through Europe to extend the currency block into the former Soviet Union for the first time.
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Egypt’s default risk dropped and shares rallied as Hosni Mubarak stepped down as the country’s president and handed power to the military, bowing to the demands of protesters.
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South Africa’s rand, Israel’s shekel and the Turkish lira will outperform eastern European currencies as investors shift assets to emerging markets less vulnerable to the debt crisis in western Europe, BNP Paribas SA said.
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