Report
Alexander Golinsky ...
  • Alexander Sychev
  • Alexey Bulgakov
  • Alisa Zakirova
  • Anastasia Khakhaeva
  • Andrew Keeley
  • Ekaterina Sidorova
  • Kirill Rogachev
  • Nikolay Minko
  • Svetlana Sukhanova

Debt Markets Today - March 2, 2020

CIS EUROBOND MARKETRussian sovereign Eurobonds slid further on Friday amid burgeoning risk aversion. Long-dated paper again suffered the most (down 2.5-2.6 pp), while intermediate quotes sank 1.0-1.7 pp.GOVERNMENT DEBTOn Friday, OFZ yields rose sharply amid rising risk aversion in global markets ahead of the weekend. Yields on issues longer than 3y were up as much as 40 bps at one point, while yields on shorter issues posted even steeper intraday gains, including as much as 50 bps for the 3y issue and 100 bps for the 3m issue. However, yields began to pull back in the evening amid growing expectations that global central banks would soon begin to signal that support was on the way for markets, with issues 3y and longer finishing the day 20 25 bps higher in yield. Trading activity was very high, and there were both buyers and sellers to be found among both local and nonresident investors. Volumes totaled R67 bln, the highest since last May.STORIES> MTS 4Q19 IFRS preview> US IRS brings case against Oleg Tinkov> Kernel Holding reports IFRS results for fiscal 2Q20
Underlyings
Mobile TeleSystems PJSC

Mobile Telesystems is a provider of mobile cellular communications services in the Russian Federation, Ukraine, Uzbekistan and Turkmenistan to consumers and corporate customers, employing technology based primarily on Global System for Mobile Communications (GSM). Co. had a mobile subscriber base of around 102.5 million (77.3 million in Russia, 20.4 million in Ukraine, 2.1 million in Turkmenistan, 1.6 million in Uzbekistan and 1.1 million in Armenia). In addition to standard voice services, Co. provides improved services, including voice mail, short message service, general packet radio service, and various SMS- and GPRS-based information and entertainment services.

Mobile TeleSystems PJSC Sponsored ADR

TCS Group Holding Plc Sponsored GDR Class A RegS

TCS Group Holding is a retail banking services group based in the Russian Federation. Co. is principally engaged in providing retail banking services in the Russian Federation through its subsidiaries, primarily Tinkoff Credit Systems. Co., through this subsidiary, fully licensed by the Central Bank of Russia and a member of the Deposit Insurance System, specializes in credit cards. Co. provides online retail financial services through a branchless operating platform. Co. also offers remote access to its financial products and services through its online banking as well as through mobile banking and high-volume call centers.

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

Alisa Zakirova

Anastasia Khakhaeva

Andrew Keeley

Ekaterina Sidorova

Kirill Rogachev

Nikolay Minko

Svetlana Sukhanova

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