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OFZs Snap Two-Week Winning Streak, Focus Shifts to CPI

RUSSIA
  • Local & USD rates open mixed to slightly weaker this morning in line with patchy risk sentiment out of the APAC session.
  • Friday’s session saw OFZs end broadly in the red with yields rising +3-5bp across the curve for a w/w gain with 10-30Y yields up +8-14bp.
  • 10y yields continue to teeter within the 8.2863-8.50 zone – fluctuating around weekly CPI readings and expectations for CBR policy.
  • Russia’s 5Y CDS registered a -9.7bp w/w decline, pulling back from the peak above 120 - with a move below 110 support opening up the 100 level to the downside.
  • OFZ Curve w/w Change


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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