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USD Curve Bear Steepens W/w, OFZ Market to Re-Open On Monday

RUSSIA
  • OFZ markets remain closed for the final day before reopening on Monday, while USD bonds trade little changed this morning.
  • Yesterday’s session saw selling pressure in USD bonds accelerate with yields rising +7.8-9.1bp across the curve with a marginal bear steepening bias holding as UST yields continued to rise.
  • W/w the USD curve stands +14-26bp higher across the breadth with bear steepening pressures affecting 15-25Y tenors the most.
  • Russia’s 5Y CDS found support at 120 and remains elevated this week ahead of weekend talks with US officials about security proposals and Ukraine – which look no closer to a meaningful thawing in tensions.
  • USD Curve w/w


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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