OREANDA-NEWS. On Friday, the OFZ market remained on a stronger footing, with investors continuing to pursue long duration. The long end climbed 1.1-1.3pp, price-wise, pushing the yields 10-20bp down. Hence, the long-end tenors scratched the 11% yield level, while RFLB 23 and RFLB 28 ended the session at 10.95%. The belly and the front-end enjoyed good demand as well, tightening 10bp in yield, so the curve retained its inverted shape with the 2s10s spread remaining at -40bp.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts