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Local sovereign debt: below 12% again

 
28.08.2015

The market opened strong, supported by RUB’s decent performance. The curve scratched 11.5% at the long end, while the belly narrowed to 11.7-11.8%. However, at these levels some profit-taking emerged, so the bonds stepped back a little from the morning highs. Hence, the long-ended bonds closed 0.9-1.1pp higher, settling near the 11.60% level, while mid-term bonds rose 0.6-0.7pp in price, with yields moving to 11.8-11.9%.

Maxim Korovin, Tatiana Chernyavskaya
VTB Capital analysts

Tags:
OFZ

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