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5Y CDS Retreats from 700 Mark as Ceasefire Talks Show Tentative Progress, Oil Slides

  • Local & USD rates trade little changed around the open, having closed mixed to lower in yesterday’s session.
  • TurkGB yields rose +1-3bp, while USD bonds were mixed on the day with 3-7Y yields falling -1.4-3.2bp, while the remainder of the curve rose slightly amid mixed global risk conditions as oil markets sold off sharply.
  • Credit default swaps dipped -16.29bp yesterday, pulling back further from the 700 handle as ceasefire dialogue between Russian and Ukraine showed some promise.

MNI London Bureau | +44 020-3983-7894 |
MNI London Bureau | +44 020-3983-7894 |

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