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.
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.
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.