Sberbank - Debt Markets Today - December 1, 2021. Belarusian GDP Update, Market Recaps

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Sberbank

Alisa Zakirova ...

Anton Stroutchenevski
Artem Vinogradov
Ekaterina Sidorova
Igor Rapokhin
Research Team
Rodion Lomivorotov

Debt Markets Today - December 1, 2021. Belarusian GDP Update, Market Recaps

CIS EUROBOND MARKETThe long end of Russia's sovereign curve was well bid yesterday, tightening 7-9 bps in yield, on the back of a shrinking geopolitical premium and rally in US Treasuries. The Russia 42/43 and Russia 47 added 1.4 pp in price. Also, the Gazprom 34 advanced 0.7 pp. Azerbaijan was the main laggard in the broader CIS market due to lingering pressure on oil prices, and the Azerbaijan 24 slipped 0.5 pp, while the Socar 30 edged down 0.4 pp. For the same reason, the TengizChevrOil 30 shed 0.3 pp.GOVERNMENT DEBTWith drivers mixed yesterday, OFZs closed the day mostly unchanged. On the one hand the ruble was advancing due to a decrease in geopolitical risks. On the other hand, many market players may have been waiting for today's auctions, at which the Finance Ministry will be offering a large volume (R40 bln) given the current market conditions. Trading volumes yesterday were subdued at R20 bln. Peer markets saw mixed trading yesterday despite the hawkish rhetoric from the Fed.STORIES> Belarusian GDP growth eases to 2.4% y-o-y in 10m21

01/12/2021 43 EN

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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

Alisa Zakirova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Igor Rapokhin

Research Team

Rodion Lomivorotov

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Debt Markets Today - December 1, 2021. Belarusian GDP Update, Market Recaps

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

Commodities Daily - March 24, 2022

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