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2Y Yield Continues To Retrace Lower

  • Poland 2Y yield continues to retrace lower today after breaking below its 50DMA during yesterday’s trading session.
  • Next support to watch on the downside stands at 2.8620%, which corresponds to the 23.6% Fibo retracement of the 0.3070% - 3.6510% range.
  • Forward rates have also been falling since the start of the year; the 3Mx6M FRA is currently trading less than 100bps above the Wibor 3M (vs. 1.40% earlier this month).
  • Resistance to watch on the topside on Poland 2Y stands now at 3.0640% (50DMA).

Source: Bloomberg

MNI London Bureau | +44 203-865-3850 |
MNI London Bureau | +44 203-865-3850 |

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