The Ministry of Finance canceled the bond swap auction. “Due to market volatility”

Due to the increased volatility on the domestic market, the Ministry of Finance decided that the bond switch auction planned for Wednesday will not be organized – said Karol Czarnecki, director of DDP at the Ministry of Finance, quoted in the Ministry of Finance's announcement.

“Due to the increased volatility on the domestic TS market, after consulting market participants (DSPW), the Ministry of Finance decided that the bond switch auction planned for 11/03 will not be organized,” said Karol Czarnecki, director of the Public Debt Department at the Ministry of Finance, in a comment sent to PAP.

On Wednesday, March 11, the Ministry of Finance planned a bond auction. The information about the tender provided on the ministry's website does not include information about the type of securities the ministry wanted to exchange.

“The consistently built buffer of liquid funds at the disposal of the Ministry of Finance, exceeding PLN 160 billion, enables taking actions adequate to the market situation. We will continue to monitor the behavior of the TS market so that the process of financing borrowing needs through bond issuance is effective,” also said Karol Czarnecki.

Since the outbreak of the war in Iran, the yield on Polish bonds has increased. At the end of February this year the yield on Polish 10-year bonds was approximately 4.93 percent, while on Monday it was just over 5.72 percent. (PAP)

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