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Local Curve Continues to Bear Flatten as CPI Boosts Hawkish CBR Bets

RUSSIA
  • Local rates trade little changed around the open, having bear flattened in yesterday's session following Wednesday's higher CPI print.
  • 2 & 3Y yields lifted +5bp on the day, with the 2Y holding onto gains above 6.90.
  • USD bonds, however, firmed marginally in 2 & 5Y tenors (-1.5bp).
  • W/w the local curve trades higher across the breadth with selling pressure concentrated in the ultra-short (3m-1Y) and long ends of the curve (20-30Y) – rising +10-12bp.
  • Meanwhile the USD curve traded roughly -5-6bp lower across the breadth w/w.

  • RusGB Curve w/w


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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