OREANDA-NEWS. The market opened 5bp wider, following RUB and oil dynamics, but soon gained a stronger footing. The bid was mostly concentrated in the belly, lifting the quotes 0.2-0.3pp higher. The long end added 0.3pp in price, with RFLB 28 rising to 73.10 (+0.4pp), while the front end remained nearly unchanged. Hence, bonds tightened 5-7bp across the curve, with the belly yields declining to 11.7-11.8% and the long end going to 11.40%.

Maxim Korovin, Tatiana Chernyavskaya
VTB Capital analysts