Free Trial

CEEMEA Rates Trade Mixed With Slight Bullish Bias, Despite Broad Risk-Off

EMERGING MARKETS
  • RATES UPDATE
  • Overall, mixed across the region with slight buying bias, despite broad based risk-off.
  • Sell side notes clients still looking to boost risk exposure into year-end.
  • Turkey: As expected, local rates selling off more than USD with losses concentrated in the belly of the curve (3Y & 5Y).
  • SA: Bull flattening in 10,15 & 30Y yields with the 30Y leading the way -4.2bp to retrace ~50% of the move higher starting on 23 Nov.
  • 10Y rejects key resistance at 9.00, 30Y pulling back towards 11.00.
  • Poland: Tentative Bull flattening to retrace a portion of Friday's selling (~23.6%).
  • 5Y yields still holding above 0.5 handle, while 10Y trades -2bp lower just above 1.35.
  • Hungary: Bull flattener underway with 20Y yields -4.56bp, 10Y yields -1.77bp but remain elevated having risen 8.5bp during the prior week.
  • Front end yields also holding above the 1.00 handle, continuing to trend higher in today's session.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.