Debt Markets Today - June 24, 2019
CIS EUROBOND MARKETRussian Eurobond quotes moved lower on Friday morning amid the about-turn in US Treasury yields, and the selloff intensified after reports about a push for new US sanctions against Russia emerged. This sparked a brief bout of selling on the part of nonresidents. The Russia 47 led the declines (-1.5 pp), followed by the Russia 28 (-1.3 pp).GOVERNMENT DEBTQuotes on OFZs corrected slightly on Friday morning after the previous day's rally, and news that a group of US legislators had issued a proposal calling for new sanctions on Russia (including on Russian government debt) sent yields sharply higher. In a short space of time, they jumped 12-14 bps above the previous closing levels, though there was no large-scale selloff. Local accounts continued to switch from the OFZ 26207 to the OFZ 26212, which saw volumes reach R30 bln. Yields were 6-8 bps higher on the day by the close. Overall volumes totaled R50 bln.STORIES> Evraz reportedly considering buying rail plant in France> S&P raises STLC's credit rating by one notch to BB> Nostrum Oil shareholders to consider offers for the companyEvraz 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.
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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