Romania sells 2-year T-bonds yields edge up

BUCHAREST: Romania sold less than planned 407 million lei ($114.00 million)in two-year treasury bonds on Monday, with the average accepted yield at 6.42 percent against 6.34 percent at a previous Nov. 8 tender, central bank data showed.

Debt managers had planned to sell 500 million lei.

Yields have been rising gradually in recent weeks, driven by a spike in inflation and uncertainty before a Dec. 9 parliamentary election. Debt managers have tapped foreign markets three times this year and hope to go for a fourth issue.

So far this year, Romania has sold 49.4 billion lei in bonds and bills on the domestic market.