CZECHIA: ING Expect CNB to Hold in June, See Terminal Rate at 3.25%
Jun-04 12:55
ING note that the Czech economy was in a solid position in the first quarter of the year, which will pave the way for a hawkish stance by rate-setters. They expect no change to the base rate at the upcoming CNB meeting. That said, fixed investment remains stagnant from a medium-term perspective, and firms seem reluctant to proceed with more as industry grapples with considerable uncertainty across Europe. ING currently see the terminal rate at 3.25%, which is likely to be reached at the August meeting.
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BONDS: US 10yr Yield moves above Friday's high
May-05 12:50
- Bund fades somewhat, taking its cue from the move lower in US Treasuries, TYM5 is sold in 6.5k, USM5 1k.
- Although the US Tnotes (TYM5) hasn't broken 111.02, Friday's low, the US 10yr has moved above Friday's high, printed a 4.3336% high.
- The resistance in the 10yr Yield will now be back at 4.40% which equates to 110.24+.
EQUITIES: Estoxx outright call
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PIPELINE: Corporate Bond Roundup: Apple Inc 4Pt on Tap
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- 05/05 $Benchmark Apple Inc 4pt details TBA
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