- Alexey Bulgakov
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Irina Lapshina
- Kirill Plastinin
- Nikolay Minko
- Rodion Lomivorotov
- Sergei Konygin
Debt Markets Today - March 2, 2018
CIS EUROBOND MARKETRussian sovereign Eurobonds witnessed a selloff. Volumes were low. Long-dated paper sank 0.7 pp, while intermediate issues lost 0.3-0.5 pp and short-dated bonds slid 0.2 pp. The Russia 47 closed 0.7 pp lower at 103.5% (YTM 5.0%, Z-spread 208 bps), while the Russia 27 retreated 0.3 pp to 100.8% (YTM 4.1%, Z-spread 129 bps).
GOVERNMENT DEBT
The strong decline in the ruble saw OFZ yields shift 3-5 bps higher along the curve. Volumes were above average.
STORIES
> Putin's plan for 2018-24: Social policy, growth and new weapon
> Evraz 2017 IFRS results show leverage decreased to record low level
> TMK publishes 2017 IFRS results
> National Bank hikes key policy rate for a second time this year
> Kazakh CPI remains moderate in February
Evraz engages in the production and distribution of steel and related products and coal and iron ore mining. Co. also produces vanadium products. Co. has four segments: Steel, which includes production of steel and related products at all mills except for those in North America, and includes the extraction of vanadium ore and production of vanadium products, iron ore mining and enrichment and certain energy-generating companies; Steel, North America, which includes production of steel and related products in the U.S. and Canada; Coal, which includes coal mining and enrichment; and Other operations, which includes energy-generating companies, shipping and railway transportation companies.
PAO TMK is a manufacturer and exporter of steel pipe products in Russia. Co. has production plants in Russia, the United States, Romania and Kazakhstan. Co.'s plants produce a range of existing pipes used in the oil-and-gas sector, the chemical and petrochemical industries, energy and machine-building, construction and municipal housing, shipbuilding, aviation and aerospace, and agriculture. The research centers established in Russia and U.S. are involved in new products design and development, experimental and validation testing and advanced metallurgical research.
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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