3 Aug 2011 18:47

Russian Eurobonds move upwards on rumors that country's rating might be raised

MOSCOW. Aug 3 (Interfax) - Quotations for Russian Eurobonds on Wednesday increased on rumors that the country's rating might be increased. US Treasuries posted also steady growth. As a result, spread narrowed very slightly.

By 6:06 pm Moscow time, Russia-30 had increased by 17 basis points to 120.35% with yield at 4.01%, down from 4.04% on August 2.

By the same time, benchmark UST-10 had gone up by 15 basis points to 104.53% with yield at 2.59%, down from 2.61% on Tuesday.

Therefore, spread between Russia-30 and US Treasuries narrowed by only one basis point to 141 basis points.