Long-dated Czech bonds extended their gains after Thursday’s CNB meeting thanks positive developments in core bond markets after cautious FOMC statement. Long yields dropped slightly, while trading was unusually active on Friday.
Since a release of the state budget figures is not a market mover, the domestic bond market will primarily monitor core bond markets. In this respect, a release of the June ISM manufacturing index will be a figure of the day.
(CSOB - Investment research)