Fixed Income Market Weekly: Volatility will remain high on the market up until the U.S. non-farm payrolls data release on Friday

GKO-OFZ market
From Wednesday onwards, an upward price trend is likely to set in on the
GKO-OFZ market. The increase in liquidity at the beginning of the month
and the redemption of OFZ 27013 will boost buying of ruble-denominated
government bonds.
BUY: OFZs with durations longer than 4 years

Eurobond market
The key event for world debt markets will be the U.S. non-farm payrolls
data for May, which will be released on Friday. Volatility will remain high
on the market up until then.
HOLD current positions

Market of corporate and municipal Eurobonds
Continuing negative news surrounding Yukos caused a widening of the
spreads between the corporate and sovereign segments of the external
debt market.
BUY: UralSib Eurobonds by selling NIKoil Eurobonds