Debt Markets Today - December 8, 2020
CIS EUROBOND MARKETRussian sovereign Eurobonds have continued to trade sideways despite the recent high volatility in US Treasuries. A similar picture has been seen in the corporate sector. Exceptions to this trend have been the Sovcombank perps (up 1.8 pp yesterday), Alfa Bank perpetuals with 6.95% coupon (up 0.7 pp) and long-dated Gazprom issues (up 0.3 pp).GOVERNMENT DEBTThanks to the continued ruble rally, OFZ yields managed to drop another 1-2 bps at the long end yesterday, though activity was again very low. We expect the Finance Ministry to announce as the issues it will auction off tomorrow the 7y OFZ 26236 (May 2028) likely with no limit. In addition, we think it will probably test the market with the long-dated OFZ 26233 (July 2035) amid falling yields at the long end of the curve, though with a limit.STORIES> OFZ Weekly Flows: Unexpected nonresident inflow into floaters> TMK reports mixed 3Q20 IFRS results
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.