April 17, 2018 / 8:13 AM / 6 months ago

Russia dollar bonds bounce, CDS fall after U.S. delays new sanctions

LONDON, April 17 (Reuters) - Russian assets rebounded on Tuesday with yield spreads narrowing, dollar-bond prices rising and credit default swaps falling after U.S. President Donald Trump delayed imposing additional sanctions on Moscow.

The premium demanded by investors to hold Russian sovereign dollar bonds over safe haven U.S. Treasuries fell 12 basis points (bps) to 221 bps.

Sovereign dollar-denominated bonds rose across the curve, with the 2043 issue up 1.4 cents, according to Tradeweb data. The country’s 5-year credit default swaps fell 8 bps from Monday’s close to 138 bps, according to data from IHS Markit. (Reporting by Claire Milhench, writing by Karin Strohecker)

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