Russian eurobond prices dip Monday, spread with UST broadens
MOSCOW. March 22 (Interfax) - Prices for Russian eurobonds corrected down Monday amid slumping world stock and commodities markets, and spread with UST widened appreciably.
The market was lackluster, as investors shied from risk and trading floors reacted to the Bank of India's unexpected interest rate hikes and the 'Greek problem' without drama.
Russia's 2030 bonds had slipped 36 bp to 115.34% of face value, yielding 4.97% pa, by 6:10 p.m. Moscow time, while ten-year UST were at 99.66% of face value, yielding 3.67% pa. Spread between ten-year UST thus expanded 8 bp to 130 bp.