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Russian Bonds Gain, Despite Little Progress in Talks

RUSSIA
  • Local & USD bonds open slightly firmer this morning, having sustained bullish momentum in yesterday’s broadly risk-on session.
  • USD bonds outperformed on the day with 5-7Y yields falling -5.1 & 10.6bp on the day, despite little progress being made in Lavrov-Blinken talks.
  • Weekly CPI will be eyed this afternoon for signs of softening price pressures, although markets anticipate that higher FX passthrough via a weaker RUB should result in another 100bp hike in Feb.
  • 3x6 FRA-Mosprime spreads currently stand at +142bp.
  • 3x6 FRA-Mosprime Spreads


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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