Eurobond prices increase on Wednesday after steep declines earlier in week
MOSCOW. April 11 (Interfax) - The majority of Russian Eurobonds gained in price on Wednesday following the steep declines on Monday and Tuesday, while U.S. President Donald Trump's warning to Russia that a missile strike would be made against Syria had limited impact, although the benchmark 2030 issue was one of those most affected, resulting in some widening of the sovereign spread.
Russia's benchmark 2030 bonds were down 7 basis points from previous closing as of 6:15 p.m. Moscow time at 111.87% yielding 4.02% per annum, 2 bps higher. Four-year US Treasuries were up 4 bps from previous closing at 98.96%, with yield down 2 bps at 2.355%. Spread between Russia-30 and UST4 widened 4 bps to 166.5 bps.
Russia's 2043 bond was up 17 bps at 107.09% yielding 5.36%, down 1 bp; the 2042 bond rose 7 bps at 103.41%, yielding 5.37%, down 0.5 bps; the 2026 bond was up 16 bps at 100.4% with yield down 2 bps to 4.69%; and the 2023 bond was down 3 bps in price to 103.2% yielding 4.21%, up 0.5 bps.
The new 2047 bond gained 52 bps to 95.56% with yield down 3.5 bps to 5.56% and the new 10-year bond maturing in 2027 was up 18 bps at 96.04%, with yield down 2 bps at 4.79%.