The bond boom has been steadily gaining momentum, according to data from the Ministry of Finance. Demand is now 50 percent higher than a year ago, and a year ago Poles spent the most in history on retail securities.
According to Bartosz Turek, the chief analyst of HRE Investments, six months were enough for Poles to spend over PLN 21 billion on the purchase of retail treasury bonds. This is the highest six-month result in history. It is all the more impressive if we take into account that the record result so far has been in 2020, and at the current pace, it will be improved once again in 2-3 months.
"If you compare the value of sold securities for the period from January to June, in 2020 the Minister of Finance managed to place securities worth PLN 14.7 billion, and this year the aforementioned PLN 21.5 billion. The increase is therefore at the level of 46 percent. It was hard to expect such a good result. It is even more worth considering why Poles are so eager to buy retail papers. There are at least several reasons," Bartosz Turek noted.
"These are safe securities, where the government guarantees the return of money and the payment of interest. To invest PLN 100 is enough. In addition, there is no place to look for stars – a commission for a purchase, brokerage account, asset management, or other fees. Even if we want to resign from investments ahead of time, the mechanism here is designed so that at most we will lose interest, but we will recover the capital in full," he added.