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  • Local & USD rates trade mixed at the open to cap off a broadly firmer week.
  • USD rates were better bid in yesterday's session with gains concentrated in the 5Y & 15Y tenors (-5.5bp & -3.3bp respectively)
  • while local rates were more subdued – holding -2bp lower across the breadth.
  • W/w both curves attracting gains in the belly-middle (5Y-10Y), with yields mostly lower as positive sentiment builds in Russian assets.