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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- Although a meeting is a step in the right direction, it’s no guarantee of a de-escalation from both sides – which have show limited appetite to waver on their current positions
- NATO continues to have a substantial presence in the Black Sea and US weapons sales to Ukraine have continued.* Meanwhile, Russia has not moved its troops back from the border or signalled any intention to do so – hence the positions remain broadly the same.
- Gauging comments on the potential agenda for the meeting will be a key next step to see if both sides are amenable to de-escalation.
- The geopolitical risk premium currently baked into RUB is currently relatively high, and this is the first tentative sign of progress towards a meeting after weeks of escalating tensions
- Russia's 5Y CDS has risen +38bp since the US voiced its concerns of an invasion of Ukraine - rising above the March/April highs at 118
- USD/RUB ticks lower following that set of headlines - Next key supports seen at 74.0639 & 73.5033 around the 200dma.
Russia 5Y CDS
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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