Free Trial

Russian Bonds Unwind on US Sanctions Expectations, Following Record OFZ Auctions

RUSSIA
  • As expected, we're seeing a big unwind in OFZ and USD bonds this morning ahead of expected US sanctions targeting Russian debt, individuals and companies.
  • Follows record OFZ auctions in yesterday's session for 2028 & 2031 OFZs and a firm rally in local & USD bonds.
  • USD bonds most offered this morning with the curve bear steeper: front end is +10-13.8bp higher, while 15-30Y yields are +15.3bp higher – fully offsetting yesterday's relief rally.
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

To read the full story

Close

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.