Traders Line Up Bets on Hungary’s Markets as Election Nears

With just days to go before Hungarians head to the polls, investors and strategists say there’s more room for markets to rally if polls are correct in showing that Prime Minister Viktor Orban’s 16-year-old experiment in “illiberal democracy” is coming to an end.

Bank of America Corp. said the forint may be undervalued by as much as 6%. Strategists at Societe Generale SA have said the currency, which was trading well above 380 per euro before the US-Iran ceasefire announcement, may strengthen beyond 370 if Peter Magyar’s opposition Tisza party wins power as most opinion polls predict.