Local sovereign debt: bid in the long end

OREANDA-NEWS. The bid was primarily concentrated in the long end yesterday. Long-dated bonds opened 0.3pp stronger, holding their ground for the rest of the day. Belly and front end tenors closed flat, managing to pare the 0.1pp morning losses. Hence, the curve became more hump-shaped, with long yields tightening to 11.55% and the belly remaining at 11.80%.