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USDCAD TECHS

Needle Still Points South

US TSYS

Yields Bounce as Equities Make New Monthly Highs

AUDUSD TECHS

Heading North

EURJPY TECHS

Bull Rally Accelerates

COLOMBIA

Economists Survey Raises 2021 CPI Forecast To 4.9%

POLAND
  • In an interview today with Biznes TV, NBP policymaker Eryk Lon said that he expects Polish inflation to remain elevated for some time.
  • We have seen that growing concerns over inflation risks have increased disagreements over the trajectory of ST rates in recent weeks.
  • Next inflation prints will be key for policy turn; persistence of inflation could 'push' policymakers to raise rates earlier than expected.
  • We have seen that the 2023 breakeven inflation has retraced lower in the past week, down 20bps to 3.67% but is still standing above the 3.5% NBP upper tolerance band.
  • As for Hungary, volatility in the Poland bond market eased significantly in the past week, with the 10Y yield retracing over 20bps lower after testing its 2% resistance, currently trading below the 1.80% level.

Source: Bloomberg/MNI

MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com
MNI London Bureau | +44 203-865-3850 | yvan.berthoux@marketnews.com