Romania rejected all bids at a tender to sell three-year treasury bonds on Thursday, central bank data showed. Despite rising pressure on yields driven by uncertainty over fiscal tightening measures, the finance ministry has refused almost all bids at above 7 percent since May, which has led to smaller issuance and even failed tenders.
It planned to sell 300 million lei on Thursday. At a similar tender on April 1, the average yield was 6.8 percent. Romania rejected all bids at four previous tenders of 3-year paper on Aug. 5, July 8, June 3 and May 13. The ministry aims to issue 4.6 billion lei in leu currency bills and bonds this month, more than double the amount sold in September. It has sold 28.27 billion lei so far this year.
News source: Reuters link: article
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