- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Igor Rapokhin
- Research Team
- Rodion Lomivorotov
- Sergey Donskoy
Debt Markets Today - November 30, 2021. OFZ Weekly Flows, Nornickel CMD Takeaways, Inflation in Belarus
CIS EUROBOND MARKETThe long end of the Russian sovereign curve saw a solid bid yesterday thanks to the recovery in global risk sentiment. Prices on issues due in 2035 and later rose 0.9-1.0 pp. Euro-denominated issues were also in demand and managed gains of 0.4 pp apiece. GOVERNMENT DEBTYesterday, OFZs tracked the ruble. In addition, market participants were focused on comments from CBR Governor Elvira Nabiullina, who pointed out the need to maintain a hawkish monetary policy in the face of the continued high inflation expectations. As a reminder, in November inflation expectations among the population for the next year were 13.5%, only 0.1 pp below the October figure, which itself had represented the highest level in over four years.STORIES> OFZ Weekly Flows: Nonresidents exit the OFZ market in substantial numbers> Nornickel CMD takeaways: Guidance raised only slightly for production, materially for capex> Inflation in Belarus ticks up to 10.5% y-o-y in October
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).
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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