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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
POLAND
- While we saw that the yield curve inverted last week in Czech Republic, increasing the odds of an economic downturn, it has also been falling sharply in Poland amid the rising Covid uncertainty.
- The 2Y10Y is down nearly 100bps since May 2021, currently trading at 85bps, its lowest level since May 2020.
- As Covid cases have been rising in recent weeks, Polish government recently mentioned that it could start to implement 'drastic' measures in order to minimize the risk of a fourth wave of infection this winter.
- As CEE governments have been constantly criticized over the poor management of the Coronavirus pandemic (last winter / spring), leaders will be more 'risk averse' this time to avoid losing popularity.
- The NBP is meeting this week (Nov 3) and is likely to maintain the pace of its policy by raising the benchmark rate by at least 40bps in order to curb the rise in inflationary pressures.
- Aggressive tightening cycle while the economic activity is decelerating could lead to further flattening in the near term.
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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