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RUB 3x6 FRA -Mosprime Spreads Narrow as PPI, CBR Approach

RUSSIA
  • RUB 3x6 FRA -Mosprime Spreads have pulled back from 08 July highs at +140bp to settle closer to the 100bp mark as markets price in a more hawkish CBR response to rising CPI in June (+6.4% y/y)
  • PPI this afternoon is expected to show a slight moderation to 29.3% vs 35.3% prior but remains elevated amid supply-chain disruptions and firm demand-side drivers keeping headline CPI on an upward trajectory

  • 3x6 RUB FRA-Mosprime Spread


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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