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Bullish Momentum Slows With Locals On Holiday

RUSSIA
  • Local & USD rates open flat to slightly softer in line with souring global risk sentiment and possibly lower holiday volumes.
  • Yesterday's session saw subdued trading in USD bonds resume, while Locals gained some bullish traction with the curve moving 5-6bp lower in the belly (5-7Y), and also the 15Y tenor.
  • W/w however, short duration in local bonds is most bid (3-6m tenors), followed by 5-9Y tenors.
  • Similarly, USD bonds are firmer in 1Y, 5Y & 8Y tenors w/w.
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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