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- Local & USD rates trade mixed around the open this morning, having slipped a fraction into the red on Friday's broadly risk-off session.
- The OFZ curve trades +1-3bp higher with the 7Y most offered on the day, while the USD curve bumped +1.8bp higher in the 5Y tenor.
- W/w the local OFZ curve ended higher across the breadth with a marginal bear steepening bias.
- Russia's 5Y CDS has bounced +10.17bp this morning in line with peers SA & Turkey as hawkish FOMC concerns rise, coupled with post-Duma geopolitical jitters.