Bloomberg News

Barclays Raises Poland Credit to ‘Overweight’ on Budget Plans

October 14, 2011

Oct. 14 (Bloomberg) -- Barclays Capital recommended investors have “overweight” holdings in Polish credit and sell the country’s five-year credit default swaps as the new government will carry out plans to shrink the budget deficit and secure its current rating.

Investors should sell Polish default swaps versus the Markit iTraxx SovX CEEMEA Index of credit-default swaps for eastern Europe, the Middle East and Africa, according to Piotr Chwiejczak, Koon Chow and Andreas Kolbe, strategist at Barclays in London, wrote in an e-mailed note to clients today.

--Editors: Ana Monteiro, Alex Nicholson

To contact the reporter on this story: Piotr Skolimowski in Warsaw at pskolimowski@bloomberg.net

To contact the editor responsible for this story: Gavin Serkin at gserkin@bloomberg.net


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