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OFZs Trim Losses Following Putin's Talks With Macron, CDS Awaits Fresh Catalysts

RUSSIA
  • Local & USD rates open firmer on the margins today, trimming some of the weakness from yesterday’s session.
  • OFZ yields rose +2-3bp in yesterday’s session, but have pared most of that this morning with moderately more positive sentiment filtering through following Putin’s meetings with Macron.
  • 10Y yields continue to tread water around 9.40 with US/NATO talks still mostly in Limbo, however. A break through 9.373 opens up 9.20-9.2885 to the downside.
  • Russia’s 5Y CDS has maintained similar price action, treading water around the 200 handle – awaiting fresh catalysts in talks.
  • OFZ 10Y


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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