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Forward Rates, OFZ Yields Fall Ahead of Weekly CPI

RUSSIA
  • Weekly CPI due 1600GMT:
  • CPI Weekly YTD, 6.52% prior
  • CPI WoW 0.21% prior
  • 3x6 FRA-Mosprime rates have narrowed notably in the past few days from +125bp on Monday to +88bp today (-37bp).
  • OFZs have also reversed their weakening trend and are trading in the green today.
  • Markets will be watching for further proinflationary pressures filtering through into November for potential CBR next steps.
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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