HALISTER1: INSIDE RUSSIA: RUB Up on $50/Oil; CS Says Cut OFZ Duration

INSIDE RUSSIA: RUB Up on $50/Oil; CS Says Cut OFZ Duration

(Bloomberg) -- Ruble strengthens 0.5% vs dollar to 66.7449 as oil breaks through $50 per barrel.
  • Brent crude +1% to $50.20/bl; Brent in RUB terms +0.2% at 3,343
  • NOTE: Oil Holds Near $49 Before OPEC Meeting as Saudis Consider Deal
  • Credit Suisse Recommends Cutting OFZ Bonds Duration
  • VTB Capital Sees More Russian Cos. Selling Eurobonds Before August
  • Bank of Russia Seen Cutting Key Rate at June 10 Meeting: BofA
TODAY
  • Central bank reports weekly change in intl reserves
  • Mechel bondholders meet to discuss restructuring
MARKETS:
  • RUB strengthens less than 0.1% to 74.16 vs EUR; yld on 5-yr govt bonds -1bp to 9.31%; Micex index +0.2% to 1,896
  • MSCI EM Index +0.2% to 808.91; EM FX index +0.2% to 70.6598
MONEY MARKET:
  • Treasury offers 150b rubles in 1-day OFZ repo
  • Treasury offers 200b rubles in 7-day OFZ repo
  • Bank of Russia places 253b rubles in o/n fixed-rate repo on June 1
Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
4458Z RU (Russian Federation)

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