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

Debt Markets Today - April 15, 2021

CIS EUROBOND MARKETRussian sovereign Eurobonds rose sharply in price yesterday. Leading the way was the very long end of the curve, where investors were closing short positions. The Russia 43 and 47 added a respective 2.4 pp and 2.1 pp.GOVERNMENT DEBTVolatility was elevated in the OFZ market yesterday. Early in the day, following news of a possible meeting between the US and Russian presidents OFZ yields dropped 17-25 bps. This move was partially retraced following yesterday's auction at which a large volume was sold, although yields resumed declining in the evening and approached the morning levels. The biggest drop in yield was observed in medium-dated issues. The buying came mostly from local investors, while nonresident flows were mixed.STORIES> Russian weekly inflation slows to 0.1%> Media: US to announce new sanctions, possibly on sovereign debt> OFZ auction results> MMK 1Q21 trading update review and earnings preview> Severstal to report strong 1Q21 IFRS results
Underlyings
Magnitogorsk Iron & Steel Works (GDR)

Magnitogorsk Iron & Steel Works PJSC

Magnitogorskiy Metallurgicheskiy Kombinat PAO, formerly Magnitogorskiy metallurgicheskiy kombinat OAO, is a Russia-based company, active in the steel industry. Its main products are sinter, coke, iron, crude steel, rolled products and ore materials. The Company offers a wide range of products such as wire rod, rebars, square bars, strips, round bars, among others. It is also involved in the coal ore mining, processing of ore materials, sale of ferrous metal products and others. Magnitogorskiy metallurgicheskiy kombinat OAO operates as a supplier for such industries as: pipelines, vehicles, railway, construction and shipbuilding, among others. Its subsidiaries include Lys'venskaya Metallurgicheskaya Kompaniya OOO, among others. The Company operates domestically, as well as exports its products to the Commonwealth of Independent States (CIS) countries, Asia, the Middle East and Europe.

Severstal (GDR)

Severstal PAO

PAO Severstal is an integrated Iron & Steel works company with a range of products: hot and cold rolled steel, roll-formed shapes and pipes, rolled sections, a large group of coke products and by-products. Co. also has various social responsibilities such as the operation and maintenance of sports complexes, holiday and recreational facilities and public housing. Co.'s operations are organized along three principal divisions: Severstal Russian Steel engaged in crude steel production; Severstal Resources engaged in the production of iron ore concentrate, pellets and coking coal; and Severstal International engaged in the production of high-quality flat-rolled products.

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
Alexey Kirichok

Alisa Zakirova

Andrey Kuznetsov

Anton Stroutchenevski

Artem Vinogradov

Cole Akeson

Ekaterina Sidorova

Igor Rapokhin

Irina Lapshina

Nikolay Minko

Olga Sterina

Research Team

Rodion Lomivorotov

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