Report
Alexander Golinsky ...
  • Alexey Bulgakov
  • Alisa Zakirova
  • Andrew Keeley
  • Andrey Krylov
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Kirill Rogachev
  • Mikhail Krasnoperov
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov

Debt Markets Today - June 3, 2020

CIS EUROBOND MARKETLong-dated Russian sovereign Eurobonds continued to rally yesterday, adding 0.6-1.1 pp. The rest of the curve saw limited changes.GOVERNMENT DEBTTrading activity in the OFZ market was muted for most of the day yesterday, with yields barely moving even though the ruble remained on the upswing. However, after the Finance Ministry surprised the market with the announcement that it would offer up three nominal issues at today's auction (including the relatively new 15y issue) yields at the long end picked up 1-4 bps. Trading volumes totaled R40 bln. Both locals and nonresidents were active in the market yesterday.STORIES> SberIndex shows pickup in consumption last week and in May> Government unveils R5 trln economic recovery plan for 2020-21> Credit Bank of Moscow to buy back senior dollar Eurobonds> VTB releases IFRS results for 4m20> MHP publishes 1Q20 IFRS results
Underlyings
MHP SE Sponsored GDR RegS

MHP is a holding company. Through its subsidiaries, Co. is engaged in poultry and related operations, grain growing, as well as other agricultural operations. Co.'s poultry and related operations integrate all functions related to the production of chicken, including hatching, fodder manufacturing, raising chickens to marketable age, processing and marketing of branded chilled products and include the production and sale of chicken products, sunflower oil, mixed fodder and convenience food products. Grain growing produces and sells grains. Other agricultural operations comprise the production and sale of cooked meat, sausages, beef, milk, goose meat, foie gras, fruit and feed grains.

VTB Bank (GDR)

VTB Bank PJSC

Bank VTB PAO is a Russia-based bank engaged in the provision of financial services. The Bank reports five segments: Corporate-Investment banking includes operations with corporate customers that are large business customers and banking financial institutions, as well as operations on the securities market; Mid-Corporate banking covers operations with medium business corporate customers; Retail business includes operations with individuals and small business corporate customers, and offers operations on Internet and mobile Point-of-Sale acquiring, plastic cards, payroll services and financial consulting, among others; Treasury comprises operations to manage liquidity, operations on financial and interbank markets, cash flow management and debit financing operation; as well as Other business includes two business: Construction and development involves operations undertaken by Company in the construction and development industry, and Other activities represent non-banking business.

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 Bulgakov

Alisa Zakirova

Andrew Keeley

Andrey Krylov

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Kirill Rogachev

Mikhail Krasnoperov

Nikolay Minko

Research Team

Rodion Lomivorotov

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