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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 continue to gain as West-Russia tensions simmer with bo0th sides in favour of continuing the dialogue.
- Credit default swaps have taken a notable leg lower today, falling -21.125bp to retest the 200 handle. This is also reflective of an easing in global risk conditions, with SA & Turkey registering 4 & 6bp declines respectively
- USD bonds are outperforming OFZs with yields -7.8-21.6bp lower across the curve with a bull flattening bias holding.
- USD/RUB trades -1.11% lower this morning, approaching the 76.00 handle as Putin cites tentative optimism in the dialogue with the West.
- 1m USD/RUB risk reversals have been falling in recent sessions, but have found support today just above the 5.00 mark - suggesting some caution around the 75.00-76.00 region in USD/RUB with the crisis still ongoing.
5Y CDS
USD/RUB 1m RRs
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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