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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- Russia 10Y yield has been surging in the past week, up 30bps and currently testing its 7.71% resistance, which represents the 76.4% retracement of the 5.43% – 8.42% range (2020-2021 high low).
- With Russia CPI inflation currently standing at 7.4% (September print), the 10Y real yield is back into positive territory following the recent rally in LT interest rates.
- The chart below ranks the 10Y real yields among the most liquid EM economies, adjusted by CPI inflation.
- Interestingly, the firm trend in oil prices keeps pushing inflation expectations higher (therefore lowering real yields) but also keeps supporting the RUB, which is still very sensitive to the dynamics of energy prices (particularly oil).
Source: Bloomberg/MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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