- Andrey Kuznetsov
- Anton Stroutchenevski
- Artem Vinogradov
- Nikolay Minko
- Rodion Lomivorotov
Debt Markets Today - October 7, 2019
CIS EUROBOND MARKETThe market perked up on Friday amid declining benchmark yields and expectations that the Fed will provide sufficient support to the slowing economy. The Russia 42, 43 and 47 closed 0.5-0.7 pp higher. The Russia 29 added 0.5 pp to close at 107.4% (YTM 3.4%, Z-spread 204 bps). The Russia 5y CDS widened by 6 bps to 89.7 bps.GOVERNMENT DEBTDemand for EM assets helped to push OFZ yields lower by 5 bps early on Friday. The move was also supported by comments from CBR First Deputy Governor Ksenia Yudaeva that inflation risks had decreased and that the bank would consider another rate cut as an option at its next meeting this month. After the release of the monthly inflation print for September later on Friday, yields continued to fall, and eventually finished the day 7-12 bps lower. The biggest declines were posted by the issues maturing in 2026-33.STORIES> Russian inflation slows to 4% y-o-y in September> Yudaeva offers comments on monetary policy
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