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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
- The sharp tightening in financial conditions with the surge in ST rates has been pricing in a significant deceleration in the economic activity.
- Czech 2Y yield is up 100bps since the start of the month , gradually approaching its key resistance at 4.9% (June 2008 high).
- Forward rates have been rising following recent CNB ‘hawkish’ comments, with the FRA 3Mx6M currently trading at 104bps above the Pribor 3M, implying that the market is pricing in a terminal rate at 5.5%.
- This chart shows that the 2-year change in the Czech 2Y yield has strongly led the industrial production by 6 months (proxy for economic growth), and is currently pricing in a significant slowdown in the business activity.
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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