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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
- Bearish momentum in local & USD bonds has followed through from last week into today’s session with yields higher across both curves. OFZs trade +10-21bp higher across the breadth with a bear flattening bias holding. Meanwhile, 2 & 7Y USD bond yields stand +23.8-34.4bp higher.
- USD/RUB erased early downside to trade around Friday’s highs (+0.60%), with uncertainty keeping risk flows away from RUB as markets await written proposals from the West.
- At these levels, RUB has a significant geopolitical risk premium in the price – reflected by the 5Y CDS.
- 5Y CDS trades +28.6bp higher today, skyrocketing towards past the 200 mark as tensions with the West escalate – returning to 2016 levels. This trades over 150bp above similar countries like Saudi Arabia with a 5Y CDS at 53.
- Stocks remain offered with the MOEX down -1.85%
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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