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OUTLOOK

Markit Mfg, Services PMIs

EQUITIES

Stocks Resume Incline After Thursday Pause

UK T-BILL AUCTION RESULTS

GBP3.0bln Of 1-/3-/6-Month Bills

EUROZONE ISSUANCE

Jul 26 Belgium Auction Size Up To E3.1bln

EGB OPTIONS

Schatz straddle, sold again

POLAND
POLAND: Moody's said it kept "its outlook for Poland's banking system at stable,
reflecting the rating agency's view that solid economic growth, along with
improving employment and income levels, will boost both corporate and household
consumption." The "Banking System Outlook: Poland" report said "solid economic
growth balances weaker profitability and unpredictable policies." The research
is an update to the markets and does not constitute a rating action.
- "Accelerating economic growth will create opportunities for banks, offsetting
weak profitability and unpredictable government policies," said Arif Bekiroglu,
an Associate Vice President at Moody's.
- Moody's said "earlier this month that it expects Poland's economy to grow by
4.3% this year and 3.5% in 2018, up from 2.7% in 2016. However, the threat of EU
sanctions over controversial policy-making by the governing Law and Justice
party, may crimp investor confidence and potentially weigh on growth."