March 01, 2016 | Cbonds
|Fyodor Bagnenko, Fixed Income Trader, Dragon Capital:|
The sovereign staged an impressive rebound yesterday, rallying by 2pt to recover more than half of last week's losses. The underlying action was somewhat less spectacular, with a low-volume rebound following a similar low-volume drop. It seems that last week’s Yatsenuk-Jaresko rumor helped reignite some animal spirits while excess supply of bonds was taken out. The market’s medium-term trajectory, however, rests firmly in politicians' hands and talks with the IMF.