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OFZs Pare Yesterday's Gains as Risk Aversion Hits Global Markets

RUSSIA
  • Local rates open on the backfoot this morning, broadly in line with weaker global risk sentiment as variant concerns spark concerns of more substantial lockdowns and weaker economic activity.
  • This morning's weakness pares roughly half of the 10-13bp in gains made across the OFZ curve in yesterday's session, pushing the 10Y back towards the 8.50 mark.
  • W/w the OFZ curve stands +10-15bp bear flatter in 1-7Y yields, while 10-30Y yields are more contained at +2-6bp on week.
  • OFZ Curve w/w


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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