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OFZs Continue to Bear Flatten Ahead of Auctions Today, 5Y CDS Dips Below 80

RUSSIA
  • Local & USD rates trade little changed around the open, having continued to bear flatten in yesterday's session as markets anticipate a tighter CBR stance going forward.
  • OFZ yields rose +3-14bp across the curve with 2Y yields most offered at +14bp, followed by 3 & 7Y yields at +6-7bp. USD bonds were more muted, treading water marginally in positive territory.
  • Russia's 5Y CDS remains in bear mode, down -1.6bp since Monday and teetering below the 80- handle for the first time since mid-September
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market NewsHomepage

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