Eurobonds erase Monday morning losses on Rusal sanctions news
MOSCOW. April 23 (Interfax) - Russian Eurobond prices had climbed back into positive territory by Monday evening following news at midday that sanctions against UC Rusal had been eased and might even be canceled. US Treasuries ticked lower, resulting in a slight narrowing of the spread between the two benchmark issues.
Russia's benchmark 2030 bonds were down1 basis point from previous closing as of 6:15 p.m. Moscow time at 111.93% yielding 3.975% per annum, 0.5 bps lower. Four-year US Treasuries were down 3 bps from previous closing at 98.62%, with yield up 1.5 bps at 2.53%. Spread between Russia-30 and UST4 narrowed 2 bps to 144.5 bps.
Russia's 2043 bond was up 60 bps at 107.97% yielding 5.3%, down 4 bps; the 2042 bond rose 44 bps to 104.62%, yielding 5.28%, down 3 bps; the 2026 bond was up 36 bps at 101.06% with yield down 5.5 bp to 4.59%; and the 2023 bond was up 4 bps in price to 103.19% yielding 4.205%, down 1 bp.
The new 2047 bond gained 80 bps to 96.98% with yield down 6.5 bps to 5.46% and the new 10-year bond maturing in 2027 was up 37 bps at 97%, with yield down 5 bps at 4.655%.