Debt Markets Today - October 18, 2019

CIS EUROBOND MARKETRussian sovereign Eurobonds opened higher yesterday but pulled back to where they began the day after a sharp rise in US Treasury yields. Activity was below average and mainly involved local investors, who were selling the Russia 28 and picking up the Russia 35.GOVERNMENT DEBTLocal investors continued to take profit on the OFZ market, mainly at the long end of the curve. Nonresident demand increased in the morning after CBR Deputy Governor Ksenia Yudaeva signaled a possible rate cut next week, though she noted that there are many prerequisites for lowering the rate. Later, nonresident demand increased further amid rising global risk-on sentiment, which was prompted by Brexit developments. In the evening, selling by local accounts weakened, and yields dipped further. Yields closed 2-4 bps lower among maturities of 7y and shorter. Volumes totaled R38 bln.STORIES> Basic sectors data shows uptick in September and 3Q19> CBR releases banking sector data for September> Finance Ministry says it may place yuan local bonds in 2020> Alrosa: 3Q19 trading update review and earnings preview> Debtwire assesses possibility of Nostrum Oil bond restructuring > Belarusian GDP growth slows to 1.0% y-o-y in 9m19> IMF quiet on prospects of new program for Tajikistan after visit