The bonds nosed into a positive territory, as they followed German Bunds. That’s obvious negative atmosphere is at least temporary over. Hence Czech bonds opened stronger in step with their German mates, but erased most of gains by the end of the session. A spread between Czech and German yields didn’t change. Today dormant atmosphere might prevail. The calendar is empty for the whole week, thus only a development in core markets may drive bonds. Sideways price action seems to be the most likely scenario now.
(CSOB - Investment research)