Poland’s Bond Demand Jumps at Start of Bumper Quarter for Sales

Demand jumped to the highest in more than a year at Poland’s local-currency bond auction on Wednesday, kicking off a potentially record-setting quarter for offerings to cover a widening fiscal shortfall.

Investors bid for 17.7 billion zloty ($4.8 billion) of notes, with the Finance Ministry selling 10 billion zloty in line with plans. The government intends to offer as much as 80 billion zloty of notes during the fourth-quarter — an all-time high excluding emergency Covid-era sales, which were in large part absorbed by the central bank’s quantitative easing program.