Debt Markets Today - July 12, 2021.
CIS EUROBOND MARKETRussian sovereign Eurobond quotes closed slightly lower on Friday (by 0.2 pp at the long end) amid a rebound in US Treasury yields from four-month lows. However, the market was not very active.GOVERNMENT DEBTThe global backdrop was supportive for the OFZ market on Friday, as the ruble strengthened alongside EM peers and EM local-currency debt fell in yield. This fueled demand for OFZs from local and foreign investors alike. The latter focused on short- and medium-dated issues with a fixed coupon, likely due to the growing interest in carry trade with the ruble. These issues outperformed, dropping 4-5 bps in yield, while yields on longer-dated paper fell 1-4 bps. Trading volumes on the Moscow Exchange totaled R24 bln, of which more than R15 bln was in issues 4y and shorter.STORIES> Alrosa reports strong June sales results> Chelyabinsk Pipe launches consent solicitation on ChelPipe 24AK Alrosa PAO. AK Alrosa PAO (Aktsionernaya kompaniya ALROSA PAO or ALROSA Company PJSC), formerly AK Alrosa OAO, is a Russia-based company which is principally engaged in the exploration, mining, manufacture and sales of diamonds. Its operations include five Integrated Mining and Processing Complexes: Mirny, Udachny, Aikhal, Anabar and Nyurba located in the Sakha Republic; sorting divisions and diamond cutting and polishing division. The Company is a member of variable diamonds associations. It operates through several representative offices, branches and subsidiaries, including Alrosa-Nyurba OAO, Almazy Anabara OAO and Severalmaz OAO.
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