Report
Alexander Golinsky ...
  • Alexander Sychev
  • Alexey Bulgakov
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrew Keeley
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Kirill Rogachev
  • Nikolay Minko
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - March 24, 2020

CIS EUROBOND MARKETRussian sovereign Eurobonds saw a mixed session yesterday amid thin trading. Medium-dated issues managed to post gains, the Russia 28 adding 2.6 pp. The Russia 29 climbed 1.3 pp, whereas long-dated issues fell 1.6-1.9 pp. GOVERNMENT DEBTOFZ yields opened 15-20 bps higher yesterday amid worsening global risk perception, but the selloff was not particularly intense. The market found support from the CBR's announced measures to support the financial sector. In particular, banks will for a time be allowed to book securities at their market value as of March 1 rather than at the prevailing market value. Securities purchased between March 1 and September 30 can be carried at the market value as of the acquisition date. Global markets reversed later after the US Federal Reserve announced an unlimited bond purchase program. OFZ yields eventually closed 5-12 bps lower.STORIES> Coronavirus, FX selling mean changes in forecasts> South Africa to shut down PGM mining for 21 days> CBR releases banking sector data for February> Government replaces CEO of STLC> Russia agrees to resume oil exports to Belarus
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

Alexander Sychev

Alexey Bulgakov

Alexey Kirichok

Alisa Zakirova

Andrew Keeley

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Irina Lapshina

Kirill Rogachev

Nikolay Minko

Rodion Lomivorotov

Vladimir Lezhnev

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