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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 continued to sell-off sharply in the face of rising runaway inflationary pressures and a renewed tightening stance from the CBR on Friday.
- OFZs were most offered, bear flattening on the day with 2-5Y yields rising +16-27bp with the 5Y most affected.
- Russia's 10Y OFZ now trades above 8.00, with the next resistance points at 8.17 & 8.30, should price action hold onto gains above the level.
- Since the start of September, yields have risen +105bp as inflationary pressures kicked up a gear.
- Weekly and monthly CPI metrics will be watched closely for the degree of CBR tightening going forward.
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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