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OFZs Retreat W/w as Talks With the West Show Little Progress

RUSSIA
  • Local & USD rates kick off weaker this morning with yields up +5-7bp across the curve in OFZs and +5.7bp in 2Y USD bonds with both maintaining a slight bear flattening bias following US CPI.
  • W/w OFZ gains have slowed with yields +3-10bp higher in the 2-30Y portion of the curve.
  • The 5Y CDS is currently -15.8bp below Friday’s close, but notched up +10bp after yesterday’s unsuccessful meetings with Truss and the Normandy format group.
  • 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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