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Local Bonds Outperform Ahead of CBR, 2-5Y Tenors Lead the Way

RUSSIA
  • Local & USD bonds trade marginally firmer at the open, following on from a second consecutive session of lower yields.
  • The local curve continued to outperform, dipping -6-10bp across the breadth with 2-5Y yields leading the way lower.
  • W/w the local curve trades lower across the breadth with a slight bull steepening bias ahead of tomorrow's CBR.
  • 5Y CDS has returned to Friday's levels, eyeing 85.00 support, with 84.00 the next level to the downside.

  • Russia GBs w/w change


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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