Russia Bond Rebound No Comfort to Investors Even With Oil Gains
- Kapital to open short positions if OFZ yields drop to 11.25%
- OFZ yields unlikely to drop below 11%: Raiffeisen, TKB say
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The biggest recovery in emerging-market bonds and currencies has Russian investors poised to sell, even with oil prices bouncing back.
The ruble’s 5.7 percent rally last week was surpassed only by Ukraine’s hryvnia while top gains for Russia’s bonds pared this month’s declines as five-year yields tumbled 51 basis points in three days to 11.88 percent.