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Local sovereign debt: one step backward

 
17.04.2015

Following RUB appreciation in the early trade, the OFZ market opened strong, with mid-term and long-dated bonds jumping 0.6-0.8pp in price. However, milder FX market performance chilled the risk appetite in the afternoon, so the belly of the curve closed 0.3-0.5pp in the red, while long tenors added just 0.15pp in price.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts

Tags:
OFZ

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