Small investors have evidently returned to the sovereign debt market. Individual buyers bought bonds for PLN 1.57 billion. If not counted this summer, from the beginning of 2015 there was only one month in which the demand for retail treasury bonds exceeded PLN 1.5 billion (October’18).
It is worth noting that both in October 2018 and July 2019, demand exceeding PLN 1.5 billion was generated without any special issues, which, regardless of their form, attract small investors to the debt market. For example, in June 2019, ten-month bonus bonds were the most popular.