Sberbank - Debt Markets Today - October 25, 2021. CBR Hikes by a Surprise 75 bps, Kernel Holding Results

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Sberbank

Alisa Zakirova ...

Anton Stroutchenevski
Artem Vinogradov
Ekaterina Sidorova
Igor Rapokhin
Research Team
Rodion Lomivorotov
Sergey Kolesnikov, FRM

Debt Markets Today - October 25, 2021. CBR Hikes by a Surprise 75 bps, Kernel Holding Results

CIS EUROBOND MARKETUkraine moved most in the region's sovereign space on Friday, with the curve widening 3-5 bps in yield. Belarusian paper added 2-4 bps. There was little action in the sovereign investment-grade segment.GOVERNMENT DEBTFriday was the most volatile day of trading in the OFZ market in the recent past. Issues 5y and short added 25-30 bps in yield in response to the surprisingly large rate hike by the CBR and its hawkish rhetoric, while most of the longer issues added 15-20 bps. The OFZ curve is now inverted, with short-dated issues trading at yields around 7.90%. Trading volumes on Friday totaled R65 bln, well above the YTD average.STORIES> CBR Review: Short-term pain, long-term gain> Kernel Holding publishes July-September operating results> Belarusian GDP growth eases to 2.7% y-o-y in 9m21

25/10/2021 47 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

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Igor Rapokhin

Research Team

Rodion Lomivorotov

Sergey Kolesnikov, FRM

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Debt Markets Today - October 25, 2021. CBR Hikes by a Surprise 75 bps, Kernel Holding Results

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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