Bond Markets Outlook
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11 Decembrie 2009 |
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RAIFFEISEN BANK S.A. |
Adresa
Piaţa Charles de Gaulle, Nr. 15
011857 Bucureşti, Sector 1
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+40-21-306.10.00
+40-21-306.16.22
Fax
+40-21-230.07.00
Website
www.raiffeisen.ro
Highlights
� Poland - In spite of next week´s data releases, the global risk sentiment will remain the most important driver of yields and EUR/PLN. At the current level of EUR/PLN we still recommend buying Polish bonds.
� Hungary - We expect a minimal budget deficit overshoot for 2009, and a massive one for 2010. Parliamentary elections are due in April of next year, and the centre-right Fidesz will likely come away with a victory. High-ranked Fidesz politicians have talked about the need for a new budget, new policy measures and a new IMF agreement.
� Czech Republic - Next week the Czech National Bank will decide on interest rates. CNB board member Eva Zamrazilova said that there might be room for a further cut.
OPINII
