The Czech bond market had no inspiration from domestic events yesterday. However, good fundamentals and development in the euro zone markets pushed up yields again.
No important statistics are released today. Even tomorrow’s release of CNB meeting minutes and new CNB inflation prognosis should not bring any surprise. The decision to let rates without any change was unanimous and the governor outlined main ideas of the prognosis after the meeting. Therefore the focus should be on the ECB press conference, which should give a new direction for all European bonds.
(CSOB - Investment research)