Russia rallies ahead of comeback
The Russian Federation is expected to sell its long-awaited dual tranche, five and ten year bond this week. Price talk suggests 125bp over US Treasuries on the short tranche, and 135bp over UST for the longer tranche, while the finance ministry roadshow is propelling a rally in secondary markets. Turn to EuroWeek on Friday for details on the deal’s execution and what the BRIC nation’s return to international markets means for other Russian credits.
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