- Alexey Bulgakov
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Nikolay Minko
- Rodion Lomivorotov
- Sergei Konygin
- Tom Levinson
Debt Markets Today - February 15, 2018
CIS EUROBOND MARKETFollowing the publication of US inflation data in the afternoon, 10y US Treasury yields shot 4 bps higher, sparking a wave of selling in sovereign Russian issues. The Russia 28 fared the worst, closing 0.6 pp lower at 169.2% (YTM 4.4%, Z-spread 152 bps). Longer-dated issues suffered slightly less, losing 0.5 pp, while intermediate paper retreated 0.4 pp.
GOVERNMENT DEBT
A strengthening ruble helped to push yields 1-3 bps lower before the publication of US inflation data. A slight correction in the evening left yields generally either unchanged on the day or around 1-2 bps lower. Volumes were again moderate.
STORIES
> Russian budget surplus reaches R190 bln in January
> Russian CPI rises 0.1% w-o-w
> Russian FX: FX buying reveals soft center
> Promsvyazbank subordinated Eurobond holders plan to contest bail-in
> Outlook for FSU Eurobond placements in 2018
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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