Debt Markets Today - September 8, 2021. Previewing Friday's CBR Decision
CIS EUROBOND MARKETRussian sovereign Eurobonds traded in the red yesterday, with long-dated issues shedding 0.4 pp in price and mid-dated ones moving 0.2 pp lower. The trigger for this was a fresh move higher in US Treasury yields and outflows from nonresidents amid low liquidity.GOVERNMENT DEBTOFZ yields added 1-2 bps yesterday on the back of a 5 bp rise in US Treasury yields. We note that OFZs were more resilient than other EM peers, where 10y bonds generally saw 3-5 bp yield increases. However, trading in OFZs was thin, with only R16.5 bln changing hands (40% of the average daily volume over the last month).STORIES> CBR Preview: Few reasons to expect softer tone
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