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OFZ Yields Rise as Sentiment Nosedives Over Donbas Tensions

RUSSIA
  • Local & USD rates open softer this morning, with USD bonds most offered as question marks over the Russian pullback rattle sentiment.
  • Yields are up +2-3bp in OFZs and +9-9.7bp in USD bonds, trimming a portion of the downside from yesterday’s session.
  • W/w, both curves are positioned higher with the OFZ curve +34-63bp bear flatter following Friday’s hawkish CBR meeting.
  • The 5Y CDS slowed its decline amid the current uncertainty over troop movements and remains pegged above the 200 handle.

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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