Research Detail
| 2023/07/12 / Erste Group Research |
CEE pivoting issuance to mid- and long-term papers amid declining yields Foreign issuance of CEE governments slowed down considerably in the second quarter compared to the first three months of 2023. In the second half of the year, the CEE governments will likely focus on the local bond markets. The decline of the long-term yields should enhance borrowing in the local currency over the hard currency. Further, easing inflation and yields moving south should pivot domestic debt issuance from T-bills more towards mid- and long-term papers. Many CEE countries face fiscal slippage and could be put into Excessive Deficit Procedure next year as general escape clause from EU fiscal rules expires. Sovereign ratings should not deteriorate, as external balances improve. |
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General information
| Author | Erste Group Research |
| Date | 2023/07/12 |
| Language |  |
| Product name | CEE Bond Market Report |
| Topic in focus | FX, Macro/ Fixed income |
| Economy in focus | CEE, Croatia, Czech Republic, Hungary, Poland, Romania, Serbia, Slovakia, Slovenia |
| Currency in focus | Croatian Kuna, Czech Koruna, Euro, Hungarian Forint, Polish Zloty, Romanian Leu, Serbian dinar |
| Sector in focus | - |
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