Russian Eurobonds gain on U.S.-China trade truce
MOSCOW. July 2 (Interfax) - Prices for most Russian Eurobond issues continue to climb on Tuesday in the aftermath of the G20 summit in Osaka, particularly the intentions of the U.S. and Chinese leaders to continue trade talks.
However growth for Russian bonds has slowed a little and, given that US Treasuries are posting moderate gains, sovereign spreads are little changed.
Russia's benchmark 2030 bonds were up 3 basis points from previous closing by 6:15 p.m. Moscow time at 113.17% with yield at 3.01% per annum, down 2 bps. Three-year US Treasuries were up 6 bps from previous closing at 100.65%, with yield down 2 bps at 1.72%. Spread between Russia-30 and UST3 was unchanged at 129 bps.
Russia's 2043 bond was up 12 bps at 122.66% yielding 4.35%, down 1 bp; the 2042 bond also rose 12 bps to 118.43%, yielding 4.34%, down 1 bp; the 2026 bond was up 19 bps at 107.04% with yield down 3 bps at 3.59%; and the 2023 bond rose 7 bps in price to 107.32% yielding 3.01%, down 1 bp.
The 30-year bond maturing in 2047 was up 10 bps to 111.64% with yield down 1 bp at 4.51%; and the 10-year bond maturing in 2027 was also up 10 bps at 103.81%, with yield down 2 bps at 3.69%.