Local sovereign debt: under fire
The OFZ curve widened 9-13bp, yield-wise, yesterday with RFLB 28 (YTM 9.92%) down 70bp price-wise. Compared with peers, Russian sovereign debt has visibly underperformed as other markets ended yesterday’s session on a stronger footing.
Maxim Korovin, Tatyana Zueva
VTB Capital analyst
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