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Russian Bonds Firm to Start the Week, 10Y Near-Term Snaps Uptrend

RUSSIA
  • Local & USD rates trade a fraction firmer at the open, following on from Friday's broadly firmer session.
  • OFZs drifted -2-3bp lower on Friday, with the 10Y pulling away from the 7.00 handle as oscillator divergence on the RSI pointed to slowing upside momentum into Friday.
  • Next support is seen at 6.90 & 6.825. w/w the OFZ curve ended mixed to higher with the exception of 3m-1Y and 8-10Y yields which ended the week -1-2bp lower.
  • Russia's 5Y CDS drifted -2.4bp lower, but failed to consolidate a move below 85.00 support.


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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