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Local & USD Rates Firm W/W, Despite US Sanctions

RUSSIA
  • Local & USD rates open firmer this morning, clawing back some of yesterday's losses which were mostly felt in local OFZs following the confirmation of US sanctions/trading restrictions.
  • W/w local curve trades 15-20bp lower in the 5-30Y section of the curve.
  • W/w the USD curve has bull flattened slightly with duration outperforming 25-30Y tenors -15-16bp lower while the front-middle trades 7-12bp 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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