Russian Yield Curve Inversion Lessens on Bets Rates to Normalize

  • Two- and 10-year yields get closer as short-term risks ease
  • Return to normal steepness needs successive cuts: Aton

Russia’s debt curve, inverted for the last 17 months, is returning to a normal concave shape before policy makers are seen kicking off an easing cycle to direct monetary policy back toward pre-crisis levels.

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