Sberbank - Debt Markets Today - June 29, 2021. Comments on Monetary Policy by CBR Governor Nabiullina

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Sberbank

Alisa Zakirova ...

Ekaterina Sidorova
Igor Rapokhin
Research Team

Debt Markets Today - June 29, 2021. Comments on Monetary Policy by CBR Governor Nabiullina

CIS EUROBOND MARKETRussian sovereign and corporate Eurobonds again showed restrained dynamics yesterday. The only moves came in the Russia 47 and Gazprom 34 and 37, which added 0.2 pp apiece.GOVERNMENT DEBTAgainst the backdrop of CBR Governor Nabiullina's comments, the OFZ curve flattened out yesterday. Issues maturing in up to 5y climbed 5-10 bps in yields, while yields on medium-dated issues moved 3-5 bps higher. Trading volumes on the Moscow Exchange were significantly lower than average for the month at just R13 bln. Meanwhile, 10y benchmark issues in other EM countries moved 2-9 bps lower in yield yesterday.STORIES> Market continues to price in more hawkish CBR after comments by Governor Nabiullina yesterday

29/06/2021 42 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

Ekaterina Sidorova

Igor Rapokhin

Research Team

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Debt Markets Today - June 29, 2021. Comments on Monetary Policy by CBR Governor Nabiullina

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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