Firm That Called Russia’s Bond Rally Predicts More Gains to Come
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The man who called the world’s best debt rally in the first quarter says the gains aren’t over yet for Russian bonds.
Investors are still demanding about 1 percentage point too much to own the nation’s dollar notes compared with U.S. Treasuries, according to Jan Dehn, the head of research at Ashmore Group Plc. The spread fell by 143 basis points in the first three months to 409 as Brent crude stabilized above six-year lows and a cease-fire took hold in eastern Ukraine.