HALISTER1: Polish 10Y Bond Yield May Temporarily Drop Toward 3.40%: PKO BP

Polish 10Y Bond Yield May Temporarily Drop Toward 3.40%: PKO BP

(Bloomberg) -- Central bank will likely keep dovish stance and suggestion that rates could stay on hold through 2018 after surprisingly benign March inflation, PKO analysts Miroslaw Budzicki and Arkadiusz Trzciolek say in Monday note.
  • NOTE: Polish 10-year bond yield falls 4bps to 3.45%, a level last seen in December, after sliding 32bps in March, largest monthly drop since July 2015
  • NOTE: Polish central bank starts 2-day meeting on Tuesday, with no change in rates expected
  • PKO expects Finance Ministry to place full offer, seen at 3b-5b zloty, at April 6 bond auction, following improvement in appetite toward emerging markets
  • Sees EUR/PLN rising to 4.25 in “next few days,” after zloty rose 4.1% in 1Q, the largest quarterly gain in 2 years
    • Zloty currently trading -0.3% at 4.2451 per euro at 3:23pm in Warsaw; it rose as much as 0.3% earlier

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
PKO PW (Powszechna Kasa Oszczednosci Bank Polski SA)

People
Miroslaw Budzicki (Powszechna Kasa Oszczednosci Bank Polski SA)

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UUID: 7947283

HALISTER: Banco Popular CEO Larena Leaves Bank, Expansion Reports

Banco Popular CEO Larena Leaves Bank, Expansion Reports

(Bloomberg) -- Banco Popular CEO Pedro Larena is leaving the lender, Expansion reports.
  • Larena had been mulling departure in recent weeks after his influence lessoned following the arrival at bank of former Telefonica finance director Miguel Escrig to work with Chairman Emilio Saracho, newspaper says on website
  • No one at Banco Popular’s news department was immediately available to comment when contacted by phone
  • For story: http://tinyurl.com/ke8anco

Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
POP SM (Banco Popular Espanol SA)

People
Miguel Escrig (Telefonica SA)
Pedro Larena Landeta (Banco Popular Espanol SA)

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UUID: 7947283