Russian Eurobonds rising on greater appetite for risk
MOSCOW. Aug 28 (Interfax) - Prices for most Russian Eurobonds gained moderately on Tuesday amid increased investor appetite for emerging market assets, while US Treasuries were down slightly, leading the spread between the two benchmark issues to narrow somewhat.
Russia's benchmark 2030 bonds were up 20 basis points from previous closing by 6:15 p.m. Moscow time at 109.62% with yield at 4.35% per annum, 6 bps lower. Four-year US Treasuries were down 1.5 bps from previous closing at 98.66%, with yield up 1 bp at 2.63%. Spread between Russia-30 and UST4 narrowed 7 bps to 172 bps.
Russia's 2043 bond was up 45 bps at 106.94% yielding 5.37%, down 3 bps; the 2042 bond was up 45 bps at 103.82%, yielding 5.34%, down 3 bps; the 2026 bond was up 52 bps at 99.48% with yield down 8 bps to 4.83%; and the 2023 bond rose 50 bps in price to 102.34% yielding 4.35%, down 11 bps.
The new 2047 bond was up 43 bps to 95.19% with yield down 3 bps to 5.59%; and the new 10-year bond maturing in 2027 was up 27 bps at 95.54%, with yield down 3.5 bps at 4.88%.