OREANDA-NEWS. Yesterday, the OFZ market opened in the red and sellers had the upper hand throughout the whole session. Hence, at the end of the day RFLB 28 (YTM 10.58%) lost around 0.5pp in price terms, while RFLB 19 6.70 (YTM 11.01%) slipped near 0.4pp. The curve moved up near 8bp in the long end and about 10bp in the belly. Overall, the OFZ curve has flattened near 10bp since the beginning of the week with the 2s10s spread now standing at -26bp.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts