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Rates Remain Under Pressure, Risk Premia Drift Higher

RUSSIA
  • Local & USD rates trade mostly in the red this morning with Russian USD bond yields +3.3-4.4bp higher in early trading.
  • Yesterday's session was much the same, with OFZ and USD curves both ending weaker on the day with duration most offered in both.
  • 7 & 10Y OFZ yields drifted +4-5bp higher, with price action approaching YTD highs at 7.34.
  • Russia's 5Y CDS continued to rise in yesterday's session, with price action moving above the 88 handle this morning.

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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