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Local sovereign debt: flat

 
03.12.2014
Yesterday, the OFZ market opened stronger, but FX volatility spoiled the risk sentiment. Still, at the end of the day the longest bonds gained 0.3-0.5pp, price wise, while the belly and front end closed unchanged. Therefore, we estimate long OFZ yields moved down 8bp yesterday. As we expected, MinFin cancelled the auction this week.
Maxim Korovin, Tatyana Zueva
VTB Capital analyst

Tags:
OFZ

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