On Friday, the OFZ market remained under pressure. In the morning, the bonds opened 0.15-0.35bp lower price wise, finally closing 0.3-0.5pp in the red. RFLB 28 (YTM 10.56%) underperformed, losing 0.6pp in price, RFLB 23s slipped 0.5pp. Hence, the curve widened 10-15bp in yield, with the long end moving back to 10.5%. The curve is gradually steepening, with the 2s10s spread already at -10bp and the 2s5s spread at 5bp, near the -40bp in the mid-April.