1 Aug 2013 19:13

Russian Eurobonds resume decline on Thursday

MOSCOW. Aug 1 (Interfax) - Prices for Russian state Eurobonds declined for most of the session on Thursday on signs of strengthening economic recovery in the U.S., although prices closed slightly higher thanks to a jump in prices at the start of trading.

Russia-30 bonds at 6:05 p.m. Moscow time were up 17 basis points at 117.94% of face value, yielding 4.06% per annum (4.09% p.a. on July 31). Benchmark ten-year UST were down 74 b.p. at 92.14% of face value by that time, yielding 2.67% p.a. (2.58% on July 31).

Yield spread between the two issues narrowed 12 b.p. to 139 b.p.