Debt Markets Today - February 16, 2022. Kazakh GDP, Market Recaps

CIS EUROBOND MARKETYesterday's geopolitical headlines were mixed, but mostly positive and pointing to de-escalation. In particular, there were reports that some Russian troops and equipment were being sent back to their bases after drills wrapped up, which markets took quite positively. Russia's long-term sovereign Eurobonds added 3.1-3.2 pp, while medium-term issues gained 1.5-2.7 pp. Peers mostly traded sideways.GOVERNMENT DEBTOFZs gapped 30 bps tighter in the morning following reports about troop withdrawals. A later pullback in the ruble caused this move to be subsequently partly retraced, but some of the gains ended up being restored after the Finance Ministry announced it would cancel this week's auctions because of the increased volatility. Issues in the belly posted the strongest showing, closing 30-35 bps lower in yield. The far end of the curve settled 23-27 bps tighter. The main buyers were local accounts, while foreign flows were mixed.STORIES> Oil slides Ukraine tensions ease, US weekly inventory data in focus> Kazakh GDP expands 4% in 2021, but growth eases in 4Q21 and January 2022