- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Nikolay Minko
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Debt Markets Today - January 20, 2021
CIS EUROBOND MARKETGlobal risk appetite perked up somewhat yesterday, allowing Russian sovereign Eurobonds to post modest gains. Some interest was shown in the middle of the curve. It is possible that certain market participants were attempting to gauge demand ahead of the Gazprom placement. The Russia 47 and Russia 27 added a respective 0.6 pp and 0.3 pp.GOVERNMENT DEBTYesterday, the OFZ market was supported by rising global risk appetite, the firming ruble and the Finance Ministry's announcement that it will refrain from offering long-dated paper at today's auction (where it will offer only R20 bln in the 5y OFZ 26234 (July 2025; see our story below on the OFZ market). Yields declined 1-3 bps. Volumes were slightly higher at R20 bln, but in general trading remains somewhat thin.STORIES> Geopolitics drove capital outflow in 2H20; outflow to ease in 2021> OFZ update: YTD yield rise, inflation, CBR outlook, auction preview> Gazprom looking to place 8y dollar Eurobonds> Economic dynamics in Kazakhstan improve in December
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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