Report
Alexander Golinsky ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Cole Akeson
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - March 17, 2021

CIS EUROBOND MARKETRussian sovereign Eurobonds continued to advance yesterday, led by the Russia 42 and 43, which both added 0.8 pp. GOVERNMENT DEBTOFZ yields did not move much yesterday, likely because investors were waiting for the auction announcement. As we had expected, the Finance Ministry announced that it would offer up nominal 5y and 10y issues and the CPI linker at today's auction. However, it provided a positive surprise, indicating that for the first time in a long time limits would be set (see the article below). This comes following the recent reports that the ministry intends to reduce its borrowing plan for this year, which has provided support for long-dated OFZs.STORIES> Industrial production down 3.7% y-o-y in February> US accuses Russia of attempts to interfere in 2020 US election> CBR could start normalizing monetary policy from Friday> Update on ruble rates ahead of CBR decision; OFZ auctions preview> Nornickel provides update on recent accidents
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

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Cole Akeson

Ekaterina Sidorova

Irina Lapshina

Nikolay Minko

Olga Sterina

Research Team

Rodion Lomivorotov

Vladimir Lezhnev

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