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​Sberbank CIB Investment Research is a research firm offering equity, fixed income, economics, and strategy research. It covers analysis on all aspects of Russia’s capital markets, issues and industries. The firm analyzes trends in Russia and combines local knowledge with a global perspective. It processes macroeconomic data, market and company-specific news, stock quotes and other information for providing research reports. The firm provides details and latest prices on the most traded names and most traded paper on all segments Russian market. In strategy research, it provides thematic research, tips and descriptions of the methodology used to evaluate companies.

Ekaterina Usanova ... (+2)
  • Ekaterina Usanova
  • Mikhail Krasnoperov
PREMIUM

Russian Consumer - Unemployment and Income: The Outlook for 2022

In its modern history, Russia has not suffered any major spikes in joblessness. Its unemployment rate has ranged from between 4.8% and 8.3% since 2005 (versus 3.6-9.9% in the US for the same period). However, considering the sectors currently affected and companies scaling down operations in Russia, we see 1.1 mln out of the total 71 mln jobs at risk. But because this comes amid a labor shortage, which emerged in late 2021, companies are aiming to hold on to personnel, while the government is an...

03/24/22 March 24, 2022 1 EN
Andrew Keeley ... (+3)
  • Andrew Keeley
  • Arthur Cherkesov
  • Ekaterina Sidorova
PREMIUM

Russian Banks - What We Know at This Stage

In this note, we sum up a few thoughts on the current situation for Russia's banks.> Immediate pressure weathered... Since the initial brief depositor panic in late February, deposit flows have stabilized and even turned into net inflows as banks have hiked short-term deposit rates to around 20%, in line with the key rate.> ... and the CBR has experience of crises. The CBR is well versed in supporting the banking system through crises and has already made important moves in providing liquidity a...

03/24/22 March 24, 2022 1 EN
Anton Stroutchenevski ... (+6)
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Dmitry Troshin
  • Georgiy Ivanin
  • Research Team
PREMIUM

CIS Market Daily - March 24, 2022

MARKET COMMENT - TRADING TO RESUME FOR DOMESTIC INVESTORS AHEAD OF THE NATO-G7-DM SUMMIT AND NEW SANCTIONSEquity trading resumes today after a four-week suspension, but nonresidents and short-sellers will not yet be welcomed back. In focus will be the summit of NATO, the G7 and the rest of the developed world, which was called to discuss the evolving responses to Russia's so-called "special military operation" against Ukraine. STORIES> Equity trading to resume today - but not for nonresidents> "...

03/24/22 March 24, 2022 1 EN
Alisa Zakirova ... (+10)
  • Alisa Zakirova
  • Andrew Keeley
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Arthur Cherkesov
  • Ekaterina Sidorova
  • Igor Rapokhin
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
PREMIUM
CHMF SEVERSTAL PAO
SVST SEVERSTAL (GDR)

Debt Markets Today - March 24, 2022. Ruble Settlement for Gas, Russian...

CIS EUROBOND MARKETThe Eurobond market remained inactive yesterday.GOVERNMENT DEBTYesterday saw a correction in the OFZ market, with yields rising 20-40 bps. This was actually a fairly modest move given how volatile things have been recently (yields dropped 250-300 bps on Monday-Tuesday, after the market reopened). Most of the OFZ curve closed in the 13.5-16.0% range. Trading volumes continued to gradually recover, reaching R13.5 bln yesterday on the Moscow Exchange. Still, that is only around h...

CHMF SEVERSTAL PAO
SVST SEVERSTAL (GDR)
03/24/22 March 24, 2022 1 EN
Anna Pilgunova ... (+3)
  • Anna Pilgunova
  • Anton Chernyshev
  • Mikhail Sheybe
PREMIUM

Commodities Daily - March 24, 2022

> Oil continues to rise as CPC oil export terminal in Black Sea halts loadings and amid upbeat EIA report. In our view, Brent is likely to start stabilizing near $120/bbl today. Investors will be watching the EU-NATO summit in Brussels, where countries will discuss their ability to reduce their reliance on the Russian energy sector.> Gold advances as US Treasury yields slide. Gold rose from $1,920/oz to $1,945/oz yesterday, while the 10y US Treasury yield declined from 2.39% to 2.29%. Gold is tr...

03/24/22 March 24, 2022 1 EN

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