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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
- Local & USD rates trade little changed around the open, having rallied firmly in yesterday's session.
- OFZs outperformed with the curve shifting -6-13bp lower with a bull flattening bias led by 7-15Y yields.
- OFZ 10Y yields fell just short of March 2020 highs & the 8.50 handle, but will need to break below 8.00 to target the next major level at 7.64-7.50.
- Markets are tentatively expecting inflation pressures to ease into 1Q22 on more favourable base effects in December, but weekly CPI prints in November have still reflected a strongly proinflationary bias so far.
- Rate hike expectations have stabilized around +120-125bp on a 3-6m horizon.
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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