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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 mixed around the open, with OFZs slightly firmer (-1-2bp) and USD bonds 0-1.2bp weaker.
- OFZs ended last week on the front foot on the back of further signs of a moderation in inflation in December, while the CBR continued to guide hawkishly into 2022.
- W/w OFZs marked a weekly gain with yields falling -8-22bp in 2-30Y tenors.
- Most notable, the 10Y fell below 8.50 support, with the focus now on 8.370 support for a more consolidated break lower towards 8.00 and potentially below as inflation moderate into 2022.
- Sell-side analysts are split over whether this is the end of the easing cycle and await clearer indications in Jan 2022 for concrete evidence of falling price pressures.
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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