HALISTER1: Credit Suisse Recommends Cutting OFZ Bonds Duration

Credit Suisse Recommends Cutting OFZ Bonds Duration

(Bloomberg) -- Credit Suisse recommends investors start positioning for rate cuts in Russia, strategist Nimrod Mevorach says in research note.
  • Bank of Russia will cut key rate either at next meeting on June 10 or at July 29 meeting: Credit Suisse
  • Recommends real-money investors hold marketweight positions in OFZ bonds
  • Recommends switch from Jan. 2028 bonds into Feb. 2019 bonds; target yield differential of +10bps from current -51bps, stop-loss at -70bps
  • “Multimonth flattening trend of the OFZ curve” is excessive as macro conditions prompt rate cuts
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
4458Z RU (Russian Federation)

People
Nimrod Mevorach (Credit Suisse Group AG)

To de-activate this alert, click here

UUID: 7947283