Sberbank - CIS Market Daily - September 21, 2021

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Sberbank

Andrey Kuznetsov ...

Anton Stroutchenevski
Artem Vinogradov
Cole Akeson
Research Team
Yuri Popov

CIS Market Daily - September 21, 2021

MARKET COMMENT - CHINA WOES TRIGGER SHARP DROP; SOME SIGNS OF DIP BUYING TODAYThe debt crisis at China's Evergrande catalyzed a global selloff, stock markets on average falling 1.7%, the most in two months. While the ongoing debates in markets about the resilience of the global economic recovery and record-high valuations in some segments were hardly resolved, dip buyers have stepped in, especially in EMEA and US markets, since late last night, suggesting a tenuously bullish outlook this morning. STORIES> Fed preview: New dot plot to hint at higher rates> Kazakhstan's short-term economic indicator eases in August

21/09/2021 13 EN

Provider

Sberbank

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.

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Analysts

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Cole Akeson

Research Team

Yuri Popov

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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 announcing extra social support measures. In a conservative scenario, the unemployment rate could go u...

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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 and capital forbearance. The banking sector recapitalization that we saw in 2008-09 and 2014-15 is no...

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Anton Stroutchenevski ... (+6)

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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> "Unfriendly" countries to pay for Russian gas in rubles> Weekly inflation still elevated at 1.9%; inf...

March 24, 2022 March 24, 2022 1 EN

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CIS Market Daily - September 21, 2021

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

CIS Market Daily - March 24, 2022

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