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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- Russian assets have seen material rebuild in the geopolitical risk premium since Ryabkov’s threats to collapse Western talks, deploy troops and conduct military drills near Ukraine – resulting in significant selling pressure across all asset classes.
- The benchmark MOEX index trades -7.00% lower today, marking the biggest intraday decline since March 2020. The index is down -10.66% YTD and 18.15% off its November peak – broadly ignoring bullish momentum in oil markets.
- Price action is now holding around the June 2020 highs (5,179), with 5,000 & 4,891 the next downside support levels to consider. The index trades off a 4.85x P/E & 0.92x P/B vs the MSCI EM Index at 14.20x P/E & 1.84x P/B.
- USD bond yields continue to rise in today’s session with 5 & &Y tenors up +41.4 & 29.6bp respectively. The 5Y CDS has found some stability, however, stalling around the 200 mark.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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