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OFZ Curve Snaps Bear Flattening Bias W/W

RUSSIA
  • local & USD rates trade mixed to firmer this morning, having gained bull flattening momentum in yesterday's session with 5-15Y yields closing -3bp lower on the day.
  • W/w the OFZ curve snaps its losing streak with yields standing -3-7bp lower across the breadth with a slight bull steepening bias after a few weeks of bear flattening in line with higher weekly CPI readings.
  • 10Y yields have pulled back below 7.50, but will need to break 7.40 to unlock the next leg lower towards 7.20.

OFZ Curve wow Chg

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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