OPEC Meeting.

US stocks closed higher on Wednesday, Nasdaq outperformed S&P (+2% vs +0.8%) as technology stocks appreciated after the optimism of vaccine news faded. Due to Veterans Day US accounts were offline yesterday, USTs were not trading.

The ECB president Lagarde said that the bank will use its emergency bond-buying and ultra-cheap loans to banks as the main way of controlling financing costs until the economy recovers from the pandemic.
Bunds moved to -0.51% yield (-0.02%) while Stoxx 600 gained 1.1% during the day.

OPEC+ is considering a delay in the planned output hike in January 2021 by 3-6 months, according to several delegates. The Cartel downgraded its estimates of the amount of crude it needs to supply in the coming year affected by the second wave of Covid. Oil prices appreciated yesterday, Brent gained 0.4% (USD 43.8 per barrel).

Russian Eurobonds traded mostly flat on Wednesday. Today Russia is issuing new Eis morning.

Angol and Ngeria bonds rallied on Wednesday however SSA opening lower today after a tiUR 7Y and 12Y bonds with IPTs of 1.25% and 2% area respectively. Rub ccy lost 0.6% and closed at 77.11 on Wednesday, however it is up 0.5% thghter move the previous day as oil also drifts lower. At the moment the likes of ANGOL and KENINT are seeing good two way flows.