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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 mixed around the open, having sold off sharply yesterday.
- OFZs played catch-up after an extended closure period, bear flattening +22-29bp in 2-5Y yields as yields priced out the more positive CPI developments in late December, while the rest of the curve rose +8-17bp.
- 10Y yields are teetering just below the Nov-Dec highs at 8.66 with key support at 8.44 & the bear trigger at 8.37.
- Forward rates rose sharply yesterday from +68bp to +87bp in the 3x6FRA-Mospirme spread – suggesting more hawkish expectations for Feb’s CBR meeting.
3x6 FRA-Mosprime spread
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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