Czech bonds aimed north at the end of the week. They ignored strong GDP figures and with average trade volume followed development on the euro zone markets. The yield curve declined along the whole length at the medium of 3 bps.
April’s industrial production was released this morning. The figures were weak even if the market expected decline. Nevertheless they used to have a mild impact on the bond market. More interesting events will be released later, PPI on Tuesday and retail sales on Friday. Therefore the main incentives for the Czech bond market should come from the development in the euro zone today.
(CSOB - Investment research)