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2Y Yield Surges Following Glapinski Comments On Friday

POLAND
  • Poland 2Y Yield has been skyrocketing following Governor Glapinski comments on Friday, with the 2Y yield surging to 3.2% this morning.
  • We saw that ST rates and forward rates had been falling in the past two weeks as investors were pricing an early end of tightening cycle.
  • However, it is likely that the NBP will proceed with another (at least) two 50bps hikes in the coming meetings.
  • Key resistance to watch on the 2Y yield remains at 3.65% (early January high).

Source: Bloomberg

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