Russian Eurobonds little changed in week
MOSCOW. Nov 24 (Interfax) - Prices for most Russian Eurobonds were little changed in the past week amid conflicting signals from world capital markets as well as stable US Treasuries resulting in only a slight variation in sovereign spreads.
In the week as a whole Russia 2030 fell 0.16% in price to 117.11%. Spread between these and four-year UST was unchanged in five trading sessions, remaining at 100 bps.
The 2043 bond rose 0.07% in price and the 2042 bond was up 0.05% - spread between these and UST with the same maturity narrowed 1 bp to 248 bps; the 2026 bond was unchanged; the 2023 bond was up 0.06%, with spread narrowing 3 bps to 109 bps; and 2020 was down 0.08%.
The new Eurobond maturing in 2047 gained 0.16% to 102.61%, with yield down 1 bp to 5.08%; and the new 2027 bond was up 0.042% to 101.96%, yielding 4%, down 0.5 bps.
The market will likely fall in the coming week amid deterioration in the situation on international capital markets, amid increased anticipation of an interest rate hike by the Federal Reserve in December, the protracted tax reform process in the U.S. and an expected downward correction in oil prices, the Interfax Center for Economic Analysis said.