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USD Rates See Bull Steepening Pressure, Diverging from Locals

RUSSIA
  • Local & USD rates open on the front foot amid mixed sentiment across EM FI markets.
  • Last week saw yields diverge at the front end of both curves, with USD bonds better bid while locals remained offered in short-duration tenors.
  • W/w, however, the back end of both curves lifted slightly – leaving the USD curve bull steeper and the local curve bear flatter.
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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