Emerging Europe's Bond Standout Gets Another Rate Surprise
- Serbian central bank cut rates for first time in five months
- Dinar bonds have handed investors 5 percent return this year
Photographer: Oliver Bunic/Bloomberg
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One of eastern Europe’s last dovish central banks is giving the region’s best-performing bonds another boost.
The National Bank of Serbia surprised with its third unexpected interest-rate cut in seven months on Wednesday, a further reason for investor optimism over local-currency bonds that have outperformed all of their regional peers this year.