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OFZs Slip after Lacklustre Auctions, Weekly CPI Prints Flat

RUSSIA
  • Local & USD rates trade little changed this morning, having sold-off across the curve in yesterday's session.
  • The local OFZ curve underperformed following lacklustre auctions, with yields rising +2-3bp across the curve (5-10Y section most offered).
  • W/W the curve trades higher in both short and long duration tenors following last week's CBR.
  • Weekly CPI printed flat yesterday and will be monitored closely in the coming weeks for signs of moderation into October.

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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