Turkey’s bonds rallied, sending yields to all-time lows, after Moody’s Investors Service raised the country to investment grade for the first time in two decades, fueling expectation of capital inflows. The lira weakened on speculation the central bank will cut rates.
Hungary’s central bank will use all methods at its disposal to help sustain economic growth after an “encouraging” start of the year, Magyar Nemzeti Bank President Gyorgy Matolcsy and his deputy Adam Balog said today.
Audi AG, the world’s second-largest maker of luxury cars, said high-performance cars like the RS5, as well as the new version of the A3 compact, will help propel sales this year amid intensifying economic headwinds.
Stocks rose, sending the Standard & Poor’s 500 Index to another record, as weakness in manufacturing and a drop in wholesale inflation fueled bets the Federal Reserve will be in no rush to scale back stimulus. The euro slid as the region’s recession deepened.
Hungary’s economy probably exited its second recession in four years in the first three months of 2013, posting growth from the previous quarter for the first time since 2011, a survey of economists showed.