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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
- Local & USD bonds remain Unch this morning, after yesterday’s invasion of Ukraine sparked extensive selling pressure on Russian assets across the board as investors fled due to Western sanctions.
- USD bonds suffered the brunt of it with the CBR stepping in with liquidity to soften the blow on OFZs.
- USD bond yields rose +786-2,611bp across the curve in an astronomical move higher: 2Y +2,661bp, 5Y +1,067bp, 7Y +1,025bp & 15Y +786bp.
- OFZ yields also shifted +397-574bp higher with the 5Y most offered on the day. W/w the USD curve stands +603-2,746bp higher with a bear flattening bias holding.
- Credit default swaps surged +485bp to 917, eclipsing the prior wartime highs by some margin.
- USD/RUB 1m risk reversals have stalled at 16.00 after rising 3.84 points (+32.52%), with spot opening up lower this morning.
USD Curve w/w
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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