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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.
CZECHIA
- Czech financials have been consolidating lower in the past two weeks despite ST rates gradually reaching new highs.
- We previously saw that in the past 18 months, financials have been much more sensitive to the dynamics of ST rates than the 'traditional' 2Y10Y yield curve.
- MSCI Czech Financials Index (MXCZ0FN Index) is down over 6% since its local high of 1,235.66 reached on October 11, breaking below its 50DMA in today's trading session.
- Next support to watch on the downside stands at 1,131.86 (100DMA).
- We have seen that the rise in Covid cases has led to new restriction imposed by the government, which could result in a significant downward revision in growth expectations and therefore weigh on Czech risky assets.
Source: Bloomberg/MNI
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.
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