22 May 2013 19:48

Russian Eurobond prices correct up Weds, UST slide

MOSCOW. May 22 (Interfax) - Prices for Russian state Eurobonds corrected upwards on Wednesday an average of 0.5 of a percentage point, as quotations for US Treasuries slipped in the wake of U.S. Federal Reserve Chairman Ben Bernanke's address to Congress, and sovereign spreads to yield on the underlying assets narrowed appreciably.

Russia-30 bonds had by 6:50 p.m. Moscow time risen 54 basis points to 125.15% of face value, yielding 2.93% per annum (3.02% p.a. on Tuesday). Ten-year UST were down 47 b.p. by that time at 97.91% of face value, yielding 1.98% p.a. (1.93% p.a. on Tuesday). Spread on yield between the issues narrowed 14 b.p. from Tuesday to 95 b.p.