By Alan Charlish
WARSAW, Aug 21 (Reuters) - The Polish zloty slipped on
Friday, as a fresh record number of daily coronavirus cases
added to worries about the toll the pandemic is taking on the
global economy.
Poland reported 903 new daily cases of the coronavirus on
Friday, a record that came just two days after the U.S. Federal
Reserve spooked global markets with minutes that showed doubts
about the U.S. economic recovery.
"The overall sentiment right now is not so optimistic due to
the evolution of the pandemic in Europe," said Mateusz Sutowicz,
a financial market analyst at Bank Millennium.
At 0940 GMT, the Polish zloty was 0.16% weaker
against the euro at 4.3913. The Hungarian forint
dipped 0.24% to 349.88 in thin trade, as the local market was
closed for a holiday.
The Czech crown and Romanian leu were
broadly flat at 26.05 and 4.84, respectively.
Benchmark Polish 10-year yields fell almost 3
basis points to 1.324%
On Thursday, Poland's government accepted an amended 2020
budget with a deficit of 109.3 billion zlotys. Before the
pandemic struck it had been planning to have the first balanced
budget in three decades in 2020.
"Recently, the ministry of finance has not carried out
regular bond auctions due to the record amount of funds
accumulated in budgetary accounts, but the increase in borrowing
needs may cause them to appear in the calendar in the coming
months...," PKO BP analysts said in a note.
"Such an arrangement should support the maintenance of
10-year bonds close to 1.35% in the coming weeks."
Czech 10-year yields fell just over 2 basis
points to 0.987%.
Stocks were higher, in line with other European markets
which had shrugged off negative French, German and euro zone PMI
data.
In Prague, the PX index was up 0.98% and Warsaw's WIG
20 index gained 0.46%.
CEE SNAPSHO AT
MARKETS T 1140
CET
CURRENC
IES
Latest Previou Daily Change
s
bid close change in 2020
Czech <EURCZK= 26.0500 26.0500 +0.00% -2.37%
crown >
Hungary <EURHUF= 349.880 349.050 -0.24% -5.35%
forint > 0 0
Polish <EURPLN= 4.3913 4.3844 -0.16% -3.07%
zloty >
Romanian <EURRON= 4.8400 4.8395 -0.01% -1.07%
leu >
Croatian <EURHRK= 7.5230 7.5270 +0.05% -1.03%
kuna >
Serbian <EURRSD= 117.500 117.600 +0.09% +0.06%
dinar > 0 0
Note: calculated from 1800
daily CET
change
Latest Previou Daily Change
s
close change in 2020
Prague 897.68 889.010 +0.98% -19.54%
0
Budapest 36043.5 36043.5 +0.00% -21.79%
6 6
Warsaw 1823.42 1815.03 +0.46% -15.19%
Buchares 8690.73 8702.02 -0.13% -12.89%
t
Ljubljan <.SBITOP 863.36 861.98 +0.16% -6.75%
a >
Zagreb 1597.26 1595.94 +0.08% -20.83%
Belgrade <.BELEX1 673.04 680.10 -1.04% -16.05%
5>
Sofia 436.71 435.81 +0.21% -23.13%
Yield Yield Spread Daily
(bid) change vs Bund change
in
Czech spread
Republic
2-year <CZ2YT=R 0.1330 0.0080 +082bp +2bps
R> s
5-year <CZ5YT=R 0.6400 -0.0640 +135bp -5bps
R> s
<CZ10YT= 0.9870 -0.0220 +150bp -1bps
10-year RR> s
Poland
2-year <PL2YT=R 0.1560 -0.0080 +084bp +0bps
R> s
5-year <PL5YT=R 0.7210 -0.0370 +143bp -2bps
R> s
<PL10YT= 1.3240 -0.0270 +183bp -1bps
10-year RR> s
FORWARD
3x6 6x9 9x12 3M
interba
nk
Czech 0.33 0.33 0.41 0.34
Rep <PRIBOR=
>
Hungary 0.78 0.83 0.88 0.61
Poland 0.22 0.23 0.24 0.23
Note: are for ask
FRA prices
quotes
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(Reporting by Alan Charlish in Warsaw, Robert Muller in Prague,
Radu-Sorin Marinas and Luiza Ilie in Bucharest; Editing by Amy
Caren Daniel)
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