Russian Eurobond prices slide, awaiting outcome of Federal Reserve Meeting
MOSCOW. March 14 (Interfax) - Prices for the majority of Russian Eurobonds slid in expectation of the outcome of the March US Federal Reserve meeting; the only exception being the 2030 bond. US Treasuries corrected up slightly after falling the day before, leading to a small widening in sovereign spreads.
Russia's benchmark 2030 bonds were up 0.5 basis points from previous closing by 6:15 p.m. Moscow time at 120.135%, with yield down 0.5 bps at 2.305% per annum. Four-year US Treasuries were up 5 bps from previous closing at 100.39%, with yield down 1.5 bps at 1.75%. Spread between Russia 30 and UST4 widened 1 bp to 55.5 bps.
Russia's 2043 bond was down 60 bps to 109.63% with yield up 4 bps at 5.20%; the 2042 bond was down 48 bps at 105.94% also yielding 5.20%, up 3.5 bps; the 2026 bond was down 36 bps at 103.08% yielding 4.34%, up 5 bps; and the 2023 bond was down 22 bps at 105.90%, with yield at 3.84%, up 3.5 bps.
