Russian Eurobonds up slightly as risk appetite increases
MOSCOW. June 10 (Interfax) - The prices of most Russian Eurobonds rose slightly on Monday as appetite for risk increased amid expectations that the U.S. Federal Reserve will soon cut interest rates.
U.S. Treasuries corrected down slightly, with sovereign spreads narrowing.
Russia's benchmark 2030 bonds were up 7 basis points from previous closing by 6:15 p.m. Moscow time at 112.71% with yield at 3.23% per annum, down 2.5 bps. Three-year U.S. Treasuries were down 9 bps from previous closing at 100.36%, with yield up 4 bps at 1.85%. Spread between Russia-30 and UST3 narrowed 6.5 bps to 138 bps.
Russia's 2043 bond was up 13 bps at 118.16% yielding 4.62%, down 1 bps; the 2042 bond rose 12 bps to 114.02%, yielding 4.62%, down 1 bp; the 2026 bond was up 25 bps at 105.92% with yield down 4 bps at 3.775%; and the 2023 bond rose 9 bps in price to 106.72% yielding 3.175%, down 2.5 bps.
The 30-year bond maturing in 2047 rose 37 bps to 108.2% with yield down 2 bps at 4.72%; and the 10-year bond maturing in 2027 was up 8 bps at 102.56%, with yield down 1.5 bps at 3.875%.