Russian Bonds Head for Biggest Six-Week Gain in Emerging Markets
- Contained inflation opens door to rate cut: Morgan Stanley
- Danske says OFZs look appealing amid bets for more than 50 bps
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Russian government bonds headed for a sixth week of gains that those of major emerging markets as slowing inflation renewed bets for monetary easing.
The yield on local-currency OFZs due February 2027 fell five basis points to 8.18 percent, taking the decrease to 45 basis points since July 22, the most among 25 peers tracked by Bloomberg. The ruble extended gains while stocks reached a new record after worse-than-expected jobs data in the U.S. bolstered the case for a longer pause on rates and drove appetite for riskier assets.