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OFZs Slide W/W, Markets Tentatively Eye December CPI Moderation

RUSSIA
  • Local & USD bonds kick off slightly on the backfoot this morning, with 2y USD yields up +4.9bp in early trading.
  • Yesterday’s session closed mostly mixed with OFZs trading 3-6bp firmer across the curve with a bull flattening bias in 7-10Y yields (-5-6bp).
  • W/w, however, the curve heads into the weekend with yields mostly higher across the breadth – most notably in 7-10Y yields (+10.6-12bp).
  • Key support in the 10Y stands at 8.4452 & 8.3307 as markets anticipate a moderation in inflation in December on more favourable base effects.
  • 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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