Debt Markets Today - October 29, 2019

CIS EUROBOND MARKETRussian sovereign Eurobonds retreated yesterday amid a rise in US Treasury yields for most of the session. The long end suffered the most, with the Russia 47 faring the worst ( 0.6 pp). Activity remained low.GOVERNMENT DEBTOFZ yields continued to fall yesterday, the decline picking up in light of the CBR's 50 bp rate cut on Friday. The market is increasingly shifting downward its expectations about how much the CBR will cut in December. Yields closed 2-3 bps lower at the long end and 5 bps lower in the belly. Local accounts were buying at the long end, though locals were selling in this segment even before the CBR's rate move. Turnover totaled R25 bln.STORIES> Federal Reserve preview: Fed to cut by 25 bps and signal a pause> Russian Agricultural Bank to get R13 bln capital injection> Indonesian miners reportedly set to halt nickel ore exports ahead of ban> Naftogaz Ukrainy to start marketing new dollar Eurobond> Kazakh National Bank leaves key rate on hold but could tighten in 1Q20