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2Y OFZs Snap Consolidation Period, 10Y Focus Remains on 8.33 Support

RUSSIA
  • Local & USD rates open mixed this morning, with OFZs a fraction firmer and USD bonds slipping slightly into the red.
  • Yesterday’s session saw OFZs gain bull steepening momentum with 2y yields dipping -13bp after trading mostly sideways since the end of November.
  • Key support stands at 8.1386 followed by 8.00 & 7.56 as markets eye moderating inflation in December.
  • Focus in 10Y yields still remains on 8.3307 for a move down to 8.00 support.

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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