3 Dec 2014 18:30

Russian Eurobond prices continue decline on Wednesday

MOSCOW. Dec 3 (Interfax) - Russian Eurobond prices were under pressure once more on Wednesday and the spread to US Treasuries widened by another 19 basis points.

Russia's benchmark 2030 bond was down 92 basis points by 6:10 p.m. Moscow time to 106.72%, yielding 5.96% p.a., up 20 b.p. from previous closing.

Ten-year US Treasuries were down just 8 b.p. to 99.54%, yielding 2.30% p.a., up 1 b.p. from previous closing.

Spread in yield between Russia-30 and UST10 widened 19 basis points to 366 b.p.

Pessimism reigned on the Russian bond market on Wednesday, Metallinvestbank Eurobond manager Yuliana Unesikhina said, mainly on concerns that the lack of decisive action by the Central Bank to defend the ruble would only deepen the market decline.