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Local sovereign debt: local bid remains strong

 
27.02.2015

Yesterday, OFZ bonds saw decent bids right in the morning, so by midday longer dated notes were trading up about 1.0pp, price-wise, and the curve moved down 30bp. However, at that point local accounts which had been buying at the beginning of the week started taking profits, so in the end the OFZ curve closed mostly flat. Still, the long end was enjoying stronger support than the belly, so the curve continued gradually flattening.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts

Tags:
OFZ

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