Polish bond yields rise for second day after 2025 budget plans, FX firmer
PRAGUE, Aug 29 (Reuters) -Polish bond yields climbed for a second straight session on Thursday, hitting a one-month high, after the country unveiled a 2025 budget plan with a rising deficit, while central Europe's currencies mostly moved to firmer levels after recent weakness.
Poland's government expects its general budget deficit to rise to 5.5% of gross domestic product in 2025, up from 5.1% seen this year, as it ramps up defence spending and drops some practices of the former administration that critics said kept costs off the books.
The rising deficit poses a challenge for eastern Europe's biggest economy which is already facing European Union budget discipline measures.
The 10-year benchmark bond yield PL10YT=RR climbed around 5 basis points andwas bid at 5.567% at 0926 GMT, up 16 bps since Wednesday's open before the budget announcement.
"The bottom line is that the fiscal policy in Poland in 2024-2025 is going to be more expansive than earlier suggested," Santander Bank Polska said in a note.
The zloty EURPLN= also firmed against the euro, up 0.1% at 4.2915, with the growth outlook - which was raised in the budget assumptions - providing some support.
In Hungary, the forint EURHUF= rose 0.2% to 392.65 to the euro.
Hungarian bond yields are also likely to face upward pressure after the head of the government debt agency said it would focus more on borrowing from domestic bonds and sources to keep foreign currency debt levels within limits.
On stock markets, some shares shed morning gains.
Czech utility CEZ CEZP.PR hit a near four-month low and was set to log lossesfor a third straight session after the country's finance ministry scrapped the idea of ending a windfall tax next year.
CEE MARKETS | SNAPSHOT | AT 1126 CET | |||
CURRENCIES | |||||
Latest | Previous | Daily | Change | ||
trade | close | change | in 2024 | ||
Czech crown | EURCZK= | 25.0600 | 25.0410 | -0.08% | -1.43% |
Hungary forint | EURHUF= | 392.6500 | 393.5500 | +0.23% | -2.41% |
Polish zloty | EURPLN= | 4.2915 | 4.2945 | +0.07% | +1.23% |
Romanian leu | EURRON= | 4.9773 | 4.9775 | +0.00% | -0.06% |
Serbian dinar | EURRSD= | 116.9200 | 117.0300 | +0.09% | +0.28% |
Note: daily change | calculated from | 1800 CET | |||
Latest | Previous | Daily | Change | ||
close | change | in 2024 | |||
Prague | .PX | 1578.45 | 1573.6500 | +0.31% | +11.63% |
Budapest | .BUX | 73074.50 | 72838.51 | +0.32% | +20.55% |
Warsaw | .WIG20 | 2386.79 | 2383.94 | +0.12% | +1.87% |
Bucharest | .BETI | 18277.07 | 18270.37 | +0.04% | +18.91% |
Spread | Daily | ||||
vs Bund | change in | ||||
Czech Republic | spread | ||||
2-year | CZ2YT=RR | 3.3770 | 0.0000 | +103bps | +3bps |
5-year | CZ5YT=RR | 3.5810 | 0.0280 | +145bps | +5bps |
10-year | CZ10YT=RR | 3.8230 | 0.0090 | +158bps | +2bps |
Poland | |||||
2-year | PL2YT=RR | 4.9480 | 0.0390 | +260bps | +7bps |
5-year | PL5YT=RR | 5.2560 | 0.0110 | +312bps | +3bps |
10-year | PL10YT=RR | 5.5670 | 0.0470 | +333bps | +6bps |
FORWARD RATE AGREEMENTS | |||||
3x6 | 6x9 | 9x12 | 3M interbank | ||
Czech Rep | CZKFRAPRIBOR= | 3.92 | 3.60 | 3.34 | 4.37 |
Hungary | HUFFRABUBOR= | 6.20 | 5.81 | 5.41 | 6.52 |
Poland | PLNFRAWIBOR= | 5.75 | 5.45 | 5.02 | 5.85 |
Note: FRA quotes | are for ask prices | ||||
************************************************************** | |||||
Reporting by Jason Hovet in Prague, Karol Badohal in Warsaw and Boldizsar Gyori in Budapest; Editing by Eileen Soreng
For related news and prices, click on the codes in brackets:
All emerging market news EMRG CEEU CEE/
Spot FX rates
Eastern Europe spot FX EEFX= Middle East spot FX MEFX=
Asia spot FX ASIAFX= Latin America spot FX LATAMFX=
Other news and reports
World central bank news CEN Economic Data Guide ECONGUIDE
Official rates GLOBAL/INT Emerging Diary EMRG/DIARY
Top events M/DIARY Diaries DIARY Diaries Index IND/DIARY
免責聲明: XM Group提供線上交易平台的登入和執行服務,允許個人查看和/或使用網站所提供的內容,但不進行任何更改或擴展其服務和訪問權限,並受以下條款與條例約束:(i)條款與條例;(ii)風險提示;(iii)完全免責聲明。網站內部所提供的所有資訊,僅限於一般資訊用途。請注意,我們所有的線上交易平台內容並不構成,也不被視為進入金融市場交易的邀約或邀請 。金融市場交易會對您的投資帶來重大風險。
所有缐上交易平台所發佈的資料,僅適用於教育/資訊類用途,不包含也不應被視爲適用於金融、投資稅或交易相關諮詢和建議,或是交易價格紀錄,或是任何金融商品或非應邀途徑的金融相關優惠的交易邀約或邀請。
本網站的所有XM和第三方所提供的内容,包括意見、新聞、研究、分析、價格其他資訊和第三方網站鏈接,皆爲‘按原狀’,並作爲一般市場評論所提供,而非投資建議。請理解和接受,所有被歸類為投資研究範圍的相關内容,並非爲了促進投資研究獨立性,而根據法律要求所編寫,而是被視爲符合營銷傳播相關法律與法規所編寫的内容。請確保您已詳讀並完全理解我們的非獨立投資研究提示和風險提示資訊,相關詳情請點擊 這裡查看。