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Polish bond yields decrease through balanced budget plan

Polish note yields declined on Wednesday after the government confirmed its plans in connection to shortage control for next year for the first time in last 30 years. Meantime Czech bond yields were mixed before the 1st auction in over one month.

polandPhoto: Pixabay

Polish bond yields went down by near 2-6 bp alongside the curve move with estimates of a weaker supply in the future, with a ten-year benchmark being down to 1.775 percent, for the first time since 1990.

Czech government bond yields on five-year and ten-year lowered, meantime the Finance Ministry intends to auction bonds due in 2023 and 2033 on Wednesday. Moreover, an interest rate swaps decline this week would help trigger demand for the long-dated bonds, the yield on which was unchanged in early trading, bid at 1.166 percent.

Local currencies slightly eased, with Hungarian forint the loss leader, showing its weakening during several months in a row. The Hungarian forint was traded at 329.79 against the single currency at 0822 GMT, deepening its weak status further, as recently there was marked its 13-month low.

One should mention, that NBH (National Bank of Hungary) left rates on the same level on Tuesday, as inflation was slow, euro zone economy outlook worsened and global monetary eased.

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