OREANDA-NEWS.  April 28, 2012. The Russian eurobond market was moderately optimistic, but quotes mainly consolidated on levels reached earlier. Among corporate eurobonds investors primarily bought Gazprom 34 and 37 (+30bp), VTB 20 and 35 (+35bp-40bp) and VEB 17, 20, and 25 (+20bp-30bp). In the sovereign segment major buys were Russia 22 (+15bp), Russia 42 (+20bp) and Russia 28 (+55bp). At the same time Russia 30 sagged by 30bp by the end of the trading session to trade at 119.22%, reported the press-centre of Veles Capital.   

The spread to UST10 grew by 8bp to 209bp.

International trading floors saw overall sentiment change to negative again, so on Monday we expect Russian eurobonds to drop. The market will feel additional pressure exercised by the oil price correction with Brent sliding below USD120 per barrel.