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Markets Mostly Subdued Post-CBR Decision and Presser

RUSSIA
  • USD/RUB -0.77%, with a relatively muted reaction to the larger than expected hike
  • Local curve tilts higher at the front end +7-9bp, remainder is marginally lower on the day
  • USD yields remain mixed to lower across the breadth of the curve
  • 5Y CDS has compressed 4.35bp on the day and -2.58% w/w, now trading at 99.682
  • 1m implied vols also lower w/w, against the upward trend in TRY & ZAR 1m vols
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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