The sales of State Treasury bonds set a new six-month record high in Poland in the first half of the year, amounting to PLN 21 bn (EUR 4.7 bn), according to a report prepared by HRE Investments.
"This result looks more impressive if we take into account that the previous record high was observed in 2020," the report said.
An HRE Investments analyst recalled that in the first half of 2020, the State Treasury sold bonds worth PLN 14.7 bn (EUR 3.3 bn), which translates into a 46-percent increase year on year.
Analysts attribute the increase to the fact that many people have lost confidence in bank deposits due to very low interest rates.
Reinvestments also contributed to good bond sales this year. About 15-25 percent of the monthly sale of bonds is the result of reinvesting money by people who already owned bonds and decided to go for another investment.