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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

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  • This week, Czech 10Y bond yield broke above an important resistance at 2.20% and currently trades at its highest level since January 2014.
  • The 2.20% resistance, which represents the 38.2% retracement of the 0.20% - 5.42% range (high/low of the past cycle), got rejected a few times in 2018 when LT interest rates were retracing higher globally before edging lower amid rising uncertainty and slowing growth.
  • As inflation continues to surprise positively in the CEE region, volatility in the LT end of the bond market has been surging in recent weeks.
  • Next level to watch on the topside stands at 2.56%, followed by 2.80% (50% retracement).

Source: Bloomberg/MNI