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2Y Yield Reaching New Highs Following Recent 'Hawkish' NBP Comments

POLAND
  • Poland 2Y yield has been reaching new highs in the past week as market has been repricing more hikes from NBP coming ahead.
  • The NBP is likely to hike its policy rate by50bps at the February's meeting (Feb 8), and proceed with another 50bps in March/April, which would levitate the policy rate up to 3.25%.
  • 2Y yield broke above its 50DMA this week, next resistance to watch on the topside stands at 3.50%.
  • On the downside, first support to watch below 3.0940% (50DMA) stands at 3%.

Source: Bloomberg

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