Russian Eurobonds up moderately on Tuesday amid investor appetite for risk
MOSCOW. Oct 16 (Interfax) - Prices for most Russian Eurobonds gained moderately on Tuesday as demand for risk grew among investors around the world, buoying prices for nearly all emerging market bonds, while US Treasuries were down only slightly, resulting in a slight narrowing of the spread between the two benchmark issues.
Russia's benchmark 2030 bonds were up 8 basis points from previous closing by 6:15 p.m. Moscow time at 109.86% with yield at 4.37% per annum, 2.5 bps lower. Four-year US Treasuries were down 1 bp from previous closing at 98.39%, with yield up 0.5 bp at 2.845%. Spread between Russia-30 and UST4 narrowed 3 bps to 152.5 bps.
Russia's 2043 bond was up 11 bps at 106.04% yielding 5.43%, down 1 bp; the 2042 bond was up 9 bps at 102.86%, yielding 5.405%, down 1 bp; the 2026 bond was up 19 bps at 99.21% with yield down 3 bps to 4.875%; and the 2023 bond rose 20 bps in price to 102.67% yielding 4.265%, down 4.5 bps.
The new 2047 bond was down 10 bps to 94.05% with yield up 1 bps to 5.67%; and the new 10-year bond maturing in 2027 was up 16 bps at 95.06%, with yield down 2 bps at 4.96%.