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Buying Resumes in OFZs as Sentiment Picks Up, 10Y Leads The Way

RUSSIA
  • Local & USD rates little changed to slightly firmer around the open, having continued to bull flatten in yesterday's session.
  • Local bonds retained bullish momentum yesterday with 10Y yields dipping -5bp on the day to reach a new 6-month low.
  • 8.80 remains the next key level to watch on the downside.
  • W/w the local curve trades bull flatter with 10Y yields leading the way lower (-16bp).
  • Progress in today's US strategic stability talks could bolster OFZ sentiment, should the meeting be considered broadly constructive with agreements to continue the dialogue.
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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