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Morning Summary: Demand For Czech Government Bonds Remains Firm

CZECHIA
  • Covid cases have stabilized around 4,000 after falling by 8,000 in the past 6 weeks. At 12pm, Health Minister Petr Arenberger will hold a briefing on the Covid situation. As a reminder, government officials decided to lift several Covid-relative restrictions last Sunday.
  • As yields have stabilised across central Europe, Czech government sold more bonds than originally planned amid surging demand. With a premium of 215bps to the German 10Y Bunds, investors seeking higher returns have been piling into Czech debt despite the country's record borrowing plans.
  • There are no important economic data to watch today. Next important data to watch is PPI Industrial on April 20.

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