January 02, 2014 | Cbonds
Poland's zloty and Treasury bonds appeared still mired in the post-holiday lull Thursday morning and are seen regaining livelier trade only in the second week of January.
"The local inter-banking market will remain in the post-holiday lull," Pekao analysts said in their morning research. "The publication of PMI index will rather be a neutral event."
Both the FX and T-bonds markets are expected to remain relatively stable until the week starting January 7, the analysts wrote.
"We expect no substantial changes on the yield curve and on the zloty," the analyst said. "EUR/PLN will trade in 4.145-4.155 range, while USD/PLN should be anchored at 3.025."
Poland's December PMI index dropped to 53.2 pts from 54.4 in November, HSBC and Markit said at 9:00 local time. the December reading is Poland's sixth straight above-50 reading, but a decline from the November peak.
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