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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
RUSSIA
- Local & USD rates trade mixed around the open with OFZ yields +1-2bp higher in early trading, following a notably higher weekly CPI print at 0.32% vs 0.06% prior.
- This brings the expected moderation in inflation in December into question and will likely keep the CBR on its toes in terms of maintaining a tightening bias in Feb, should monthly price dynamics fail to moderate in line with forecasts.
- This may also stall bull steepening momentum seen this week as markets remain cautious on inflation.
- W/w the OFZ curve stands -16-38bp lower in 3m-5Y yields, led lower by 2-3Y tenors (-31-38bp) in line with softer weekly CPI prints in December.
OFZ Curve W/w
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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