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CzechGBs Outperform, Hungarian Bonds Tentative Ahead of NBH Meeting

CEE

CEE FI MARKETS

  • PolGBs trade mixed to weaker around the open, broadly in line with Hungarian bonds while CzechGBs maintain their bullish momentum from yesterday's session.
  • Czech 5Y trades -4.7bp lower this morning, outperforming its CEE peers by some distance with the breadth of the curve also -2-2.3bp lower.
  • Hungary's NBH meeting remains the key focal point for today with the MPC expected to raise rates +30bp in line with market expectations.
  • MoM the Hungarian curve trades higher across the breadth, with a bear flattening bias as markets anticipate more policy tightening (+71bp priced in over 3-6m horizon).
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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