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USD Rates Claw Back Gains, Local Front End Higher W/W

RUSSIA
  • Local & USD rates trading flat to weaker at the open in line with broad based risk off and higher UST yields.
  • Yesterday saw the USD curve claw back some gains across the curve, mostly concentrated in duration: 15Y -3.7bp, 30Y -5.2bp.
  • Move below 4.039 support opens up a potential move towards 3.97 support.
  • Local 10Y adding pressure to the 7.30 handle (aligned with 23 March high).
  • w/w the local curve is 14-22bp higher in the 1-10Y portion of the local curve
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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