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Risk Premia Compress, Despite Black Sea Tensions

RUSSIA
  • Local & USD rates trade mixed around the open, having seen moderate gains in yesterday's session in line with improved global risk sentiment.
  • Local bonds gained -3bp in the belly (5-7Y tenors), while USD bonds were little changed overall.
  • Interestingly, risk premia notched lower in yesterday's session and early this morning, despite sabre-rattling with the UK in the Black Sea.
  • 5Y CDS now trading a fraction below 11 June lows at 84.631.


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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