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CEMEA Swaps Snapshot: Russian Curve Flattens, Turkey & SA Steepen

EMERGING MARKETS

Swap rates trade mostly higher across the region with the exception of Russia - seeing the curve flattening at both ends. Turkish swaps lead the region higher, with the curve bear steepening, creating similar, but less pronounced price action to that seen in SA.


SA

  • 2-year swap is up 1.75 bps at 4.43%
  • 5-year swap is up 3 bps at 5.91%
  • 10-year swap is up 2.5 bps at 7.55%

Turkey

  • 2-year swap up 7.33 bps at 19.7733%
  • 5-year swap up 6.83 bps at 18.4983%
  • 10-year swap up 10.67 bps at 17.1567%

Russia

  • 2-year swap up 2.5 bps at 6.995%
  • 5-year swap down 0 bps at 7.17%
  • 10-year swap down 3 bps at 7.32%
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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