It was an uneventful session in the Czech
bond market as a move of German Bunds
after a release of the IFO survey was only
tracked partly yesterday.
Today, while the market continues to
monitor the developments in the EMU bond
market, there might be a domestic issue,
which might grab some attention. President
Klaus meets CNB’s governor Tuma and
there may be an announcement about who
will replace the leaving board members -
Mrs. Ebenova and Mr. Frait. Our bet is that
the most prominent dove of the Board – Jan
Frait - will be definitely replaced (probably by
another dove), while Mrs. Erbenova might
be reappointed.
(CSOB - Investment research)