bearish

PLN 5Y

Alpha Bites: Take Profits on Receive Czech 5y Vs Pay Poland 5y Rate

176 Views22 Nov 2021 21:37
SUMMARY
  • In this week’s Alpha Bites, I recommend closing the cross-country rates trade to pay Poland 5y against receiving Czech 5y rate, a recommendation I made in July.
  • I had recommended the trade because the Polish central bank was behind the curve in addressing accelerating inflation, which it is attempting to correct now by hiking aggressively.
  • With the Czech central bank having been hawkish and ahead of the curve, the rate differential between the two is narrowing as rates in Poland rise.
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