Russian Eurobonds falling on investor caution about EM debt
MOSCOW. Sept 5 (Interfax) - Prices for most Russian Eurobonds are falling moderately on Wednesday as investors exercise caution with regard to emerging market debt.
US Treasuries are steady and sovereign spreads are widening somewhat.
Russia's benchmark 2030 bonds were down 7 basis points from previous closing by 6:15 p.m. Moscow time at 109.55% with yield at 4.355% per annum, up 2 bps. Four-year US Treasuries were up 1 bp from previous closing at 98.68%, with yield down 0.5 bps to 2.625%. Spread between Russia-30 and UST4 widened 2.5 bps to 173 bps.
Russia's 2043 bond was down 2 bps to 105.89% yielding 5.44%, unchanged; the 2042 bond was down 11 bps to 102.78%, yielding 5.415% up 1 bp; the 2026 bond up, by 3 bps at 99.1% with yield down 0.5 bps to 4.89%; and the 2023 bond rose 4 bps in price to 102.18% yielding 4.385%, down 1 bp.
The new 2047 bond was down 5 bps to 94.19% with yield up 0.5 bps to 5.66%; and the new 10-year bond maturing in 2027 was down 14 bps at 94.88%, with yield up 0.5 bps at 4.975%.