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Local Bonds Bull Steepen Into Key CPI Print

RUSSIA
  • Local & USD rates trade little changed to marginally weaker at the open, having continued to trade mixed in yesterday's session.
  • Locals were better bid on the day, bull steepening -2-5bp in 2-3Y yields while the rest of the curve was mostly subdued.
  • USD bonds traded mixed, with the curve flattening by 1.5bp on both ends with the front end lifting and back end dipping.
  • Risk premia nudged up +2.67bp, testing the 85.00 level – but have eased slightly this morning.
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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