HALISTER1: PKO Bank Recommends 10-Year Polish Notes on Dovish Fed Stance

PKO Bank Recommends 10-Year Polish Notes on Dovish Fed Stance

(Bloomberg) -- PKO Bank Polski strategists led by Miroslaw Budzicki see room for rally in 10-yr govt notes.
  • Yld on June 2026 note can fall to 2.90% by the end of June vs 3.15% now
  • Bonds “likely to be backed” by Fed’s stance after June 15 mtg to either postpone interest-rate hike, or raise rate with assurance scope of monetary tightening cycle limited
  • ECB corporate and public sector purchase programs to provide further boost from June 8
  • Polish govt bond supply likely decrease in July, Aug., helping rebound
  • PKO expects zloty to fall to 4.40/EUR in the short term from current 4.3798/EUR
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

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PKO PW (Powszechna Kasa Oszczednosci Bank Polski SA)

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Miroslaw Budzicki (Powszechna Kasa Oszczednosci Bank Polski SA)

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