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OFZs Regain Their Footing Following US/NATO Responses

RUSSIA
  • Local & USD bonds open slightly weaker this morning, having made notable gains yesterday following US/NATO responses to Russia’s written proposals.
  • OFZ yields fell -16-31bp with 7-10Y yields outperforming. Meanwhile, USD bond yields fell -12.2-23bp on the day with 5-7Y tenors most bid.
  • W/w the OFZ curve remains +12-19bp bear steeper in 10-30Y yields.
  • Credit default swaps have eased -43.65bp from their peak on Tuesday, but remain elevated with tensions still high.
  • 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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