Fixed Income Market Weekly: However, if the general situation changes, we will see a re-evaluation of company-issued eurobond yields, which will drive prices down

GKO-OFZ market

Most small and mid-sized market players are still feeling the low liquidity,
which is restraining demand on the OFZ market. The main players are
still major operators capable of triggering massive sales to support the
market. This week we can expect to see government bond prices
consolidate at current levels.

Eurobond market

This week the catalysts for investors will include U.S. inflation data, which
should determine by how much the US Federal Reserve increases its
rates. Meanwhile, the spread between Russian Eurobonds and US
Treasury rates has reached an unjustifiably high level, which should
gradually decrease as a result of all the bad news on the domestic front.

Market of corporate and municipal Eurobonds

Just as investors tend to treat “Aries” securities like sovereign bonds, the
overpricing of corporate bonds tends to even out with time. When
conditions are overall favorable, the prices of new issues increase, which
in turn helps keep corporate bond prices at steady levels. However, if the
general situation changes, we will see a re-evaluation of company-issued
Eurobond yields, which will drive prices down.