Hungary
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The debt chief will begin a new position at Hungary's central bank in March -
CEE covered bonds are at historic tights over core Europe
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Deep domestic market to handle most of government's borrowing needs
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Some CEE countries are already borrowing huge amounts in the Eurobond market
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Investors are feasting on extra spreads on offer in central and eastern Europe
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CEE banks are drawing heavy demand for new bonds
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Hungary has been borrowing in the yen market for 40 years
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Fair value is about 180bp over mid-swaps says a banker on the trade
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Issuers, especially banks, drew high demand
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Subordinated debt has formed most CEE FIG issuance since January
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At initial pricing MVM offered about 130bp over the sovereign curve
