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Local Bonds Eke Out Gains over USD Counterparts, Risk Premia Choppy

RUSSIA
  • Local & USD rates trade mixed at the open after a largely subdued week prior.
  • USD bonds saw little change w/w with the exception of 1Y yields drifting -7bp lower.
  • Similarly, the local curve was also little changed, but marginally better bid across the curve with a slight bull flattening bias.
  • Choppy week for risk premia (ending -0.61bp), which failed to move below the 90 handle as mixed messaging on Nord Stream 2 sanctions sparked some uncertainty.

  • Russia 5Y CDS


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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