- Alexander Sychev
- Alexey Bulgakov
- Andrey Kuznetsov
- Mikhail Sheybe
- Nikolay Minko
Debt Markets Today - November 30, 2018
CIS EUROBOND MARKETThe market's re-think of its assumptions about Fed policy, triggered by Chairman Powell's speech on Wednesday, translated into a rally in the Eurobond market yesterday as the yield on the US 10y was falling, even dropping below 3.00% at one point. Russian assets were also supported by worries about the Kerch Strait incident fading. The Russia 47 added 1.6 pp yesterday to close at 91.5% (YTM 5.9%, Z-spread 271 bps). The Russia 42 and 43 gained 1.4-1.5 pp, while the Russia 29 finished 0.7 pp higher. The Russia 5y CDS narrowed 6 bps to 165 bps. GOVERNMENT DEBTYields on OFZs maturing in longer than 4y dropped 10-11 bps yesterday, while those at the short end of the curve shed 4-7 bps. STORIES> Two events that could help oil pull a U-turn> CBR seeking to cut use of so-called irrevocable credit line facility> Kernel Holding reports 1Q19 IFRS results> S&P downgrades Nostrum Oil
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