The long end of the curve fell by 8 bps, while the front end dropped only few points. It led to a bearish flattening of the curve. Yet, the core markets fully inspired the price action. Domestic investors were initially quiet, they woke up when the prices were up. The market lacked any domestic impetus. Today traders might again look at the core markets, as no event is scheduled. Since continuation of yesterday’s rally on euro and dollar market is not likely bonds are poisoned to be flat. 10-year Czech yield tracked coer markets lower
(CSOB - Investment research)