LONDON, Feb 6 (Reuters) - Russian domestic bonds rallied on Wednesday on news the country's debt will be more readily available to foreign investors, while the Czech crown fell on speculation the central bank might be closer to intervention.
Russia's 10-year bond rose 0.4 percent, to give a yield of 6.58 percent, after Euroclear said it would begin settling trades in Russian treasury bonds this week, a long-awaited move that could draw $20 billion in foreign capital to Russia.
'This has been anticipated for some time, though the timing is a surprise,' said Richard Segal, analyst at Jefferies, adding that bond prices had risen up to 3/4 of a point on the news.
The move, which makes it easier for foreign investors to buy Russian domestic debt, will lower Russian debt yields by 30-50 basis points, BNP Paribas analysts said in a client note.
The Czech crown slid to its lowest since June ahead of a news conference following the central bank's no-change rate decision on Wednesday.
Having previously cut the two-week repo rate to a record low of 0.05 percent, Czech policymakers have made clear that weakening the crown is their next preferred way to spur spending among recession-hit Czechs.
The zloty was steady after Poland's central bank cut rates by 25 basis points to 3.75 percent, as expected.
The broad MSCI emerging stock index dipped 0.15 percent.
(Reporting by Carolyn Cohn; editing by Stephen Nisbet) Keywords: MARKETS EMERGING
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