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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
- Markets continue to boost rate hike bets over a 3-6m horizon as the RUB depreciation accelerates
- 3x6 FRA–Mosprime spreads lifted 30bp from +86bp yesterday to +116.5 today following yesterday's 5.78% CPI print and also possibly exacerbated by comments from Nabiullina RE risks to a more protracted global inflation spike
- 23 April CBR meeting will serve as an important benchmark for the bank's concerns over the inflation trajectory.
- Indications from the MPC suggest a "gradual" tightening, implying the possibility of a second 25bp hike, but outside risks of +50bp cannot be ruled out if w/w CPI figures show continued upside momentum in price pressures (now inflamed by higher FX passthrough)
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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