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Local & USD Curves Gain W/W as US Sanctions Fall Short of the Mark

RUSSIA
  • Local & USD rates open slightly firmer having ended last week on the front foot as flows returned to Russian bonds following softer than expected US sanctions.
  • W/w the breadth of the local curve has shifted ~25bp lower, with a slight bias towards the belly of the curve (4Y-8Y).
  • Conversely, duration was better bid in USD rates w/w with the 25-30Y section of the curve moving -26bp lower.
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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