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CEE Rates Snapshot: Czech Republic & Poland Firmer, Hungary Lags

CEE
  • CZECH R: Czech local bonds are seen outperforming this morning with the curve bull steepening thus far. 2Y -5.4bp, with upside momentum stalling out somewhat around the 1.60 mark.
    • Meanwhile the remainder of the curve is positioned -2.3-2.5bp lower. 2Y yields have lifted +26bp since the start of august in response to policy tightening expectations.
  • POLAND: Similar to Czech, seeing bull steepening pressure this morning – albeit more modestly. 2Y yields -1.5bp while the rest of the curve is less than 1bp lower.
  • HUNGARY: Local curve is little changed this morning, but marginally in the red. 10Y still pegged above 2.78 after failing to move below 2.76 in yesterday's broadly risk-off session.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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