OREANDA-NEWS. The OFZ market opened under heavy pressure, with long-dated issues already slipping 1.0pp into the red in the morning. By the evening, the pressure had eased a bit, but the long end still closed down 0.7-0.9pp in price, while the belly and the front end sagged 0.3pp. The curve widened 13-15bp in yield across all tenors, with the long end approaching the 11.1% level.

Maxim Korovin, Tatiana Zueva
VTB Capital analysts