Russia’s bonds fell for a second day as the nation and Ukraine failed to reach an agreement on gas prices. The ruble posted a five-day gain after earlier declining as much as 0.2 percent versus the dollar.
European Central Bank President Mario Draghi’s plan for further monetary easing is prompting his counterpart in Poland to respond with preparations of his own to keep the zloty from threatening the nation’s recovery.
Hungarian assets are “cheap” because the government will probably obtain a financing agreement from the International Monetary Fund and the European Union, London-based Citigroup Inc. strategist Luis Costa said.
The zloty strengthened for the first time this week and the forint snapped a three-day selloff after manufacturing growth in the U.S., China and Poland accelerated faster than forecast, easing concern about the global recovery.
Eskom Holdings Ltd., Africa’s biggest power company, may sell a majority stake in its largest power plant project and issue international bonds by August as it seeks funding for expansion needed to avoid blackouts.