Russian Eurobonds follow UST up on Thursday on demand for 'defensive' assets
MOSCOW. Oct 31 (Interfax) - Prices for most Russian Eurobonds gained moderately on Thursday, following US Treasuries up, which are making gains amid increased demand among global investors for "defensive" assets. Sovereign spreads were little changed.
Russia's benchmark 2030 bonds were up 28 basis points from previous closing by 6:15 p.m. Moscow time at 114.28% with yield at 2.715% per annum, 9.5 bps lower. Three-year US Treasuries were up 9 bps from previous closing at 100.90%, with yield down 4.5 bp at 1.55%. Spread between Russia-30 and UST3 narrowed 5 bps to 116.5 bps.
Russia's 2043 bond was up 72 bps at 127.76% yielding 4.05%, down 4 bps; the 2042 bond was up 63 bps at 123.73%, yielding 4.035%, down 4 bps; the 2026 bond was up 17 bps at 110.02 with yield down 2.5 bps to 3.055%; and the 2023 bond rose 3 bps in price to 109.5% yielding 2.29%, down 1 bp.
The new 2047 bond was up 83 bps to 119.25% with yield down nearly 5 bps to 4.08%; and the new 10-year bond maturing in 2027 was up 26 bps at 107.40%, with yield down 4 bps at 3.15%.