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Rates Trade in the Red Ahead of RUB 30.3bn Auctions: 2028s & 2030s On Offer

RUSSIA
  • Local & USD rates trade mostly softer at the open, maintaining yesterday's bearish momentum.
  • USD rates underperformed locals in yesterday's session easing +3.3-6.7bp higher in a bear steepening pattern.
  • Locals also traded in the red but were somewhat more subdued, lifting +2-3bp across the breath of the curve.
  • Focus today on auctions: RUB 20bn 2028 fixed coupon & RUB 10.3bn index-linked 2030 bonds.
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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