Local sovereign debt: back in black
Yesterday, OFZs found some bids, so in the end, longer-dated bonds closed 1.5-2.0pp higher, with RFLB 28 ending at a yield of 14.89%. Bonds on the belly advanced some 1.00pp, so the whole OFZ curve tightened some 40bp on the belly and around 50bp at the long end.
Maxim Korovin, Tatiana Zueva
VTB Capital analyst
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