Debt Markets Today - September 14, 2021. Tinkoff Places New Perps, Retail Investment Stats, Gazprom NS2 News, Interpipe Results

CIS EUROBOND MARKETIn the Russian sovereign segment, the main demand continues to come from local investors, who are picking up the euro-denominated issues. Yesterday, the Russia 36 E climbed 0.7 pp in price, while the Russia 32 E added 0.3 pp. The dollar issues advanced 0.2 pp at the long end of the curve. In the corporate segment, the only notable mover was Sovcombank's perps, which climbed 0.7 pp. GOVERNMENT DEBTDemand for long-dated OFZs remained in place yesterday, thanks to which yields in this segment shifted another 1-3 bps lower. In our view, support continued to come from foreign inflows into the "new" OFZs. Meanwhile, yields in the middle of the curve rose 1-2 bps. Turnover was quite modest at just R18 bln yesterday (half of the daily average over the last month).STORIES> Budget revenues remain strong in August, covering higher social expenditures> Demand among retail investors for banking sector bonds, hard currency higher in 2Q21> OFZ Weekly Flows: Nonresident inflows slowed down ahead of CBR meeting> Interpipe publishes 2Q21 results> German regulator indicates potential delays in launch of Nord Stream 2> Tinkoff Bank successfully places $600 mln AT1 perp issue> Inflation in Kazakhstan reaches 8.7% y-o-y in August> NBK raises base rate 25 bps to 9.50%