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USD Bonds Outperform Locals as CPI Concerns Weigh on OFZs

RUSSIA
  • Local & USD rates trade marginally in the red at the start of the week with 2Y yields +2bp in early trading.
  • Last week the local curve drifted higher across the breadth with a marginal bear steepening bias
  • while USD bonds saw the exact opposite – closing -5bp bull flatter in 15-25Y yields.
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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