The Czech bonds opened stronger yesterday, as they mirrored German Bunds gains in American trading. Moreover, better-than-expected the March PPI fueled the positive atmosphere. Later on, the market changed the direction as core markets went down. Thus bond were slightly in negative territory at the end of the day. The political events were no impetus for the market. Today overnight rise of core markets opened some room for bonds to go up. Weak the February retail sales, namely +1.0 % y/y, may support such environment.
(CSOB - Investment research)