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CEE Sovereign Bonds Under Pressure

CEE

CEE LCY govies have been under some pressure this morning. In addition to this morning's risk-off feel in FX and equities, concerns about inflation and rising Covid cases have contributed to the sell-off.

  • Czech bonds are broadly underperforming, with the short-end of the curve leading the charge. 2/3-year yields are now 8bp higher on the day.
  • Hungarian bonds have traded weaker with performance uneven across the curve. Yields are 3-6bp higher.
  • Polish bonds have fared somewhat better with price action relatively contained thus far.

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