OREANDA-NEWS. Yesterday, risk appetite on the OFZ market strengthened, helping to cover some of the recent losses. The long benchmarks outperformed, advancing on average 0.6pp in price, while mid-term issues moved up 0.3-0.5pp, price-wise. RUSSIA 23 (YTM 10.98%, series 26011) was in the lead, rising in price 0.7pp; RUSSIA 28 (YTM 10.83%) gained 0.6pp. Hence, the curve shifted down 7-10bp in yields, while the long end moved away from the 11.0% level.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts