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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 a fraction softer this morning, having rallied in yesterday’s session on the back of further signs of moderating inflation in December.
- Yields fell -5-10bp across the curve with 5 & 15Y tenors outperforming. W/w OFZs have trimmed early losses to trade mostly flat following gains in the prior two sessions with markets becoming more upbeat about OFZs.
- Key support in the 10Y stands at 8.50 & 3.33. Russia’s 5Y CDS has ticked up this week, rising sharply in yesterday’s session as geopolitical risks continue to simmer in the background.
- Guidance from the CBR will be key for front end yields in assessing whether there’s still room for more hikes in 1Q22, with some sell-side analysts tentatively calling an end to the hiking cycle at this meeting.
OFZ curve w/w
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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