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Local Bonds Retain Bear Flattening Momentum into Biden-Putin Meeting, FOMC

RUSSIA
  • Local & USD rates open on the backfoot post-FOMC, with USD bonds most offered – lifting +2.4-6.9bp across the curve and most notably in the 5Y tenor.
  • Local bonds were seen bear flattening into the Biden-Putin meeting with 2-3Y yields +9-11bp higher.
  • W/w local bonds continued to bear flatten following last week's hawkish CBR.
  • USD bonds have been more subdued w/w, standing roughly +5bp higher across the breadth of the curve.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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