Free Trial

Russian Curves Bear Steeper W/W, Risk Premia Compress

RUSSIA
  • Local & USD rates trade mixed around the open this morning, having diverged somewhat in yesterday's broadly risk-on session.
  • Locals saw modest gains in 3-5Y tenors (-2-3bp), while USD bonds lifted +2.2bp in 5Y yields.
  • W/w both curves are positioned marginally bear steeper – most likely reflecting a deterioration in geopolitical relations with the EU & US.
  • Risk premia, however, continue to push lower w/w (-5.266bp) as Feb lows come into focus at 82.2.


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.