Free Trial

OFZs Find Their Footing, Curve Flattens W/W

RUSSIA
  • Local & USD rates trade mixed around the open with OFZs slightly firmer and USD bonds +2.1bp bear flatter in early trading.
  • Friday's session, however, saw OFZs close firmer across the curve with a bull flattening bias in 7-10Y yields (-4-6bp on the day).
  • W/w the curve ended flatter at both ends with 1-4Y yields ending +5-7bp higher while 10-30Y yields fell -3-6bp on week – snapping a series of weaker sessions in response to domestic inflation concerns.
  • Russia's 5Y CDS fell -2.67bp on week, pulling back from the 90 handle. Support stands at 85 & 83.4.

MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.