Romania rejects bids at 10 years treasury bonds tender

BUCHAREST: Romania rejected all bids at a tender to sell ten-year treasury bonds, the second time this month, central bank data showed on Tuesday.

The finance ministry also rejected all bids at a tender to sell seven-year treasury bonds last week, the first failed tender in almost a year.

Debt yields have risen steadily and the currency has lost ground in recent weeks on concerns the US Federal Reserve would scale down its monetary stimulus that has supported an asset rally in higher-yielding emerging Europe.

A rapid sell-off in emerging markets has left Romania's government with an awkward choice - push ahead quickly with politically sensitive reforms or risk the loss of an IMF safety belt and a run on its currency and debt.

So far this year, Romania has sold just under 27 billion lei in bonds and bills on the domestic market.