Russian Eurobonds pare losses, still under pressure
MOSCOW. Aug 20 (Interfax) - Most Russian Eurobond issues are falling only slightly on Monday following their heavy losses last week, but remain under pressure from negative news from Turkey and in anticipation of new U.S. sanctions being imposed against Russia.
US Treasuries are inching up in price, and sovereign spreads are widening a little.
Russia's benchmark 2030 bonds were down 11 basis points from previous closing by 6:15 p.m. Moscow time at 109.34% with yield at 4.45% per annum, 3 bps higher. Four-year UST were up 2.5 bps from previous closing at 98.74%, with yield down 1 bp at 2.575%. Spread between Russia-30 and UST4 widened 4 bps to 187.5 bps.
Russia's 2043 bond was down 12 bps at 105.92% yielding 5.44%, up 1 bp; the 2042 bond was down 12 bps also at 102.86%, yielding 5.41%, up 1 bp; the 2026 bond was down 5 bps at 99% with yield up 1 bp to 4.905%; and the 2023 bond fell 13 bps in price to 101.89% yielding 4.45%, up 2.5 bps.
The new 2047 bond was down 25 bps to 94.48% with yield up 2 bps to 5.64%; and the new 10-year bond maturing in 2027 was up 12 bps at 94.73%, with yield up 1.5 bps at 4.995%.