- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Nikolay Minko
- Research Team
- Rodion Lomivorotov
- Yaroslav Lissovolik
Debt Markets Today - July 27, 2020
CIS EUROBOND MARKETRussian sovereign Eurobonds closed lower on Friday. Underperforming the market were long-dated issues maturing in 2042 and 2043, which moved a respective 1.6 pp and 1.8 pp lower on the day. Mid-dated paper declined 0.9 pp. GOVERNMENT DEBTThe OFZ market remained calm ahead of Friday's CBR rate decision. The regulator opted for a 25 bp cut rather than the 50 bps expected by much of the market (see the separate story), which sparked a selloff. Yields climbed 5-6 bps along the curve. These offers were swiftly absorbed by both locals and nonresidents, and yields closed only 3-5 bps higher. Nevertheless, volumes remained low at just R17 bln and were again concentrated in the belly.STORIES> CBR updates forecasts, lowers neutral key rate> Foreign OFZ holdings essentially unchanged in June> CBR cuts rates by 25 bps, next cut in September> Putin and Zelensky discuss the conflict in the Donbass
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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