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Local Yields Indicative of Brewing Rate Hike Expectations

RUSSIA
  • Local rates continue to weaken, with losses concentrated mostly in the front end of the curve.
  • W/W the front end has lifted 12-28bp with 1Y & 2Y tenors most offered – likely due to rising rate hike expectations for April/June.
  • USD curve has been more resilient but mostly subdued, trading marginally lower w/w and seeing slight bear steepening action today in line with EM sentiment.
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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