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нерезы то идут, нерезам дорогу
highyield
Just look at the headlines we see this morning in Bloomberg:
*SWEDISH EXPORT TO SELL 305M RUBLES OF 4YR, 5.03% URIDASHI BONDS
*BNP PARIBAS TO SELL 185M RUBLES OF 3YR, 5.15% URIDASHI BONDS
*RABOBANK TO SELL 1.974B RUBLES OF 5YR, 6.45% URIDASHI BONDS
*HSBC BANK TO SELL 195M RUBLES OF 4-YR, 5.5% URIDASHI BONDS
Almost 3 bio rub in total and that’s just over a period of smth like one week. For
comparison, avg monthly issuance in January-August was less than 1 bio rub, in
September – 3.5 bio rub, in October – 4 bio rub. Rub uridashi issuance is now
higher than ZAR, NZD and approaching TRY, although still well below BRL.
Looks like now it is a material source of receiving flows in rub XCCY, adding to
downward pressure on the curve.

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