Debt Markets Today - July 8, 2019
CIS EUROBOND MARKETUS Treasury yields shot up following the release of the US jobs report on Friday, causing quotes in the Russian Eurobond market to sink. The Russia 47 posted the sharpest decline (-0.7 pp), followed by the Russia 43 (-0.5 pp).GOVERNMENT DEBTThe rally in the OFZ market set off by CBR Governor Elvira Nabiullina's comment about considering a rate cut at the July meeting continued from the get-go on Friday, with yields falling 3-6 bps. However, later in the session, after the release of the US jobs report, demand faded in the 7y and longer segment, causing yields there to return to previous levels. Trading volumes totaled just R11 bln. Locals were more active at the short end and foreigners at the long end.STORIES> Moody's changes outlook on Evraz rating to positive> Highlights from Gazprom analyst event in Turkey and Russia> Highlights from Gazprom analyst site visit to Turkish StreamEvraz 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.
PJSC Gazprom is a gas company based in Russia. Co.'s principal activity is the sale of gas. Co. is also involved in other types of activities which include leasing of assets, gas transportation and storage services, sale of gas condensate and refined products. Co. and its subsidiaries and associates operates gas pipelines systems in Russia. Co. is responsible for substantially all gas production and high pressure gas transportation in the Russian Federation. Co. is also a major exporter of gas to European countries. Co. is directly involved in exploration and drilling for hydrocarbons, production of gas and other hydrocarbons and domestic and export sale of gas and other hydrocarbons.
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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