Yesterday, Czech bonds experienced a holiday quiet trade session again, though there were ECB and CNB meeting on agenda. Moreover, the bonds were not disturbed by neither CNB, which as expected left interest rates unchanged (see the Box), or by governor’s comments. However, later on they found inspiration on the western bonds strengthening and followed their path up.
Today ministry of finance will release a new bond issuance calendar for the last quarter. Nevertheless, no other important events are expected on the Czech market. Even the meeting of the new premier with the president concerning the new cabinet proposal should not influence the market and the Czech papers should copy movements of their western counterparts.
(CSOB - Investment research)