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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.
POLAND
- Momentum on Polish equities have remained firm in recent weeks despite the rise in uncertainty and the constant PLN depreciation.
- The chart below shows the strong divergence between USDPLN (inverted) and WIG20 index, which have generally co-moved strongly together in the past cycle.
- We previously saw that there are several factors that could impact Polish risky assets in the near to medium term: ongoing dispute with EU, FX-loan settlements, rise in LT rates….
- In addition, the inversion of the yield curve recently and the sharp upward retracement in short-term rates have increased the probability of a recession coming ahead.
- With the Fed tapering, momentum on Polish equities could start to fade as liquidity starts to dry up.
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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