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Bond Yields Advance Across Curve, Zloty Slips

PLN

EUR/PLN deals +64 pips at PLN4.6927 amid firm showing from the Euro. Topside focus falls on Dec 6 high of PLN4.7220 and a break here would expose Nov 16 high of PLN4.7848. On the flip side, bears look for losses past Nov 30 low of PLN4.6595.

  • Poland's government bond yields have gained across the curve, last sit 10.3-11.8bp better off. Benchmark 10-year yield operates at 6.56%, moving away from cyclical lows printed earlier this month.
  • Local media suggested that Poland is determined to secure access to EU recovery funds and continues talks with Brussels to that effect, with the ruling party mulling a plan to bypass junior coalition partner to adopt necessary legislative changes.
  • The local data docket is virtually empty today, with current account/trade balance coming up Wednesday.

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