February 04, 2016 | Cbonds
|Fyodor Bagnenko, Fixed Income Trader, Dragon Capital:|
The sovereign curve sold off yesterday on news of Economy Minister Aivaras Abromavicius resigning. The initial move was 1-2.5pt down (~40bp wider across the board) but then some ground was recovered as cautious bids came in later in the afternoon. Strong technicals, with not many loose bonds/weak hands are certainly being supportive here. Quasi-sovereign also moved down a point, but trading was very limited there.