Central European Daily

The forint outperformed its peers on Friday as Standard & Poor’s revised their outlook for the Hungarian long-term debt rating to “stable” from “negative”. The agency based the revision on its improved GDP growth forecast for Hungary as well as on country´s steady export performance that has contributed to a positive current account balance (making the economy less vulnerable to external shocks). S&P’s move was good news for government bonds, too; their yields fell along the curve and the 10Y yield slipped some six basis points below its previous day´s level.