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USD Bonds Slide as Treasury Yields Surge, 5Y CDS Stalls at 120

RUSSIA
  • Local rates remain closed for the extended new year break, while USD bonds eke out marginal gains this morning – less than 1bp lower thus far.
  • Yesterday’s session saw USD yields rise +2-8.9bp across the curve with 7-15Y tenors most offered on the day.
  • The 5Y CDS dipped -4.85bp on the day, but failed to close below 120 support, with weekend US-Russia negotiations fast approaching and geopolitical tensions showing little sign of thawing just yet.

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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