Erste CEE Trading Comments

HUF: On the rates side, receiving pressure on the mid section of the curve pushed the belly of the curve lower. Bond flow was rather moderate, with some selling interests along the curve. ASW moved wider.

PLN: Extremely quiet day in Poland on rates despite stronger Zloty and higher yields on core markets today. Market opened unchanged and bond levels did not move for the rest of the day. Only 2y was slightly better offered and the curve steepened slightly.

CEE CDS: We had a rather quiet day yesterday. CDS actually hardly moved but Cash Bonds are still very good bid. So you can find positive basis in some names again.