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10Y yield stabilizes around 2.60%

CZECHIA
  • Yesterday, economic data showed that consumer confidence fell to -16 in November, its lowest level since March 2021, confirming the deceleration in the economic activity.
  • We recently saw that the inversion of the yield curve (2Y10Y) and the sharp rise in ST interest rates are pricing in a significant deceleration in the economic activity.
  • EURCZK ticks lower this morning after finding local high at 25.55 earlier; next resistance to watch on the topside stands at 25.63 (200DMA). On the downside, first support stands at 25.43 (50DMA), followed by 25.37.
  • Czech 10Y yield has stabilizes around 2.60% this week; key resistance to watch on the topside stands at 2.74%. On the downside, first support stands at 2.50%, followed by 2.40%.

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