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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 trending lower in the past two weeks despite the surge in ST bond yields.
- Czech 2Y yield, which has been one of the major drivers of financial equities in the past two years, surged to a new high of 5.75% following CNB’s hawkish statement last week.
- On the other hand, Czech financials (MSCI)broke back below the 1,072.90 support this morning (which represents the 23.6% Fibo retracement of the 988.10 – 1,347.20 range).
- The surge in recession risk due to the Ukraine war has left cyclical equities (i.e. financials) vulnerable since the start of the year.
- The chart below shows the significant divergence between Czech equities and the 2Y yield in recent weeks.
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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