Report
Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Olga Sterina
  • Research Team
  • Vladimir Lezhnev

Debt Markets Today - February 25, 2021

CIS EUROBOND MARKETRussian Eurobond quotes fell yesterday amid a continuing rise in US Treasury yields. The biggest losses were registered by the Russia 47 (-0.8 pp) and Russia 43 (-0.5 pp). At the current levels, the Russia 47 is seeing support from local investors, while the short end of the curve has seen interest from foreign accounts.GOVERNMENT DEBTOFZ yields declined yesterday morning despite the deteriorating global market situation and a sharp rise in US Treasury yields (+8 bps on the day). The move was thanks to the strengthening ruble amid significant FX sales by exporters. The yield curve continued to flatten: yields fell 3-4 bps at the long end and were little changed elsewhere. Flows were mixed from both local accounts and nonresidents. Volumes came in at R29 bln.STORIES> Long-term OFZs outperforming peers since start of last week> Metalloinvest 2H20 and 2020 IFRS: Credit metrics improve> Nornickel partially suspends Oktyabrsky and Taimyrsky mines
Underlyings
Mining and Metallurgical Company NORILSK NICKEL (GDR)

MMC Norilsk Nickel PJSC

MMC Norilsk Nickel PJSC is a global producer of nickel, palladium, platinum and copper. Co. also produces by-products, such as cobalt, chromium, rhodium, silver, gold, iridium, ruthenium, selenium, tellurium and sulfur. Co. is involved in prospecting, exploration, extraction, refining and metallurgical processing of minerals, as well as in production, marketing and sale of base and precious metals. Co.'s production facilities are located in five countries: Russia, Australia, Botswana, Finland, and South Africa. Co.'s production units are integrated and include: the Polar Division (the Taimyr Peninsula); and the Kola Mining and Metallurgical Company (Kola MMC or the Kola Peninsula).

Provider
Sberbank
Sberbank

​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.

Analysts
Alexander Golinsky

Alexey Kirichok

Alisa Zakirova

Ekaterina Sidorova

Irina Lapshina

Nikolay Minko

Olga Sterina

Research Team

Vladimir Lezhnev

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