- Alexey Kirichok
- Alisa Zakirova
- Anton Stroutchenevski
- Artem Vinogradov
- Ekaterina Sidorova
- Irina Lapshina
- Mikhail Sheybe
- Nikolay Minko
- Research Team
- Rodion Lomivorotov
- Vladimir Lezhnev
Debt Markets Today - July 16, 2020
CIS EUROBOND MARKETYesterday, following a rather quiet stretch in the Russian sovereign Eurobond market, prices picked up at the long end, with the Russia 47 and 43 adding a respective 0.6 pp and 0.4 pp. Support came from an overall positive global backdrop during the Moscow session and a rise in oil prices. GOVERNMENT DEBTYesterday morning, following the publication of the CBR's "Talking Trends" bulletin, in which the regulator noted that disinflationary risks persist, yields moved slightly lower at the short end of the OFZ curve. However, trading activity was relatively low ahead of the Finance Ministry's auction. Later on, the weak auction results for the nominal OFZ 26228 spurred a selloff in the secondary market, causing OFZs 7y and longer to finish 3-7 bps higher in yield. Intermediate paper saw a more modest rise in yields amid ongoing demand from local accounts. Volumes totaled R13.7 bln.STORIES> Weekly inflation in Russia slows to 0.1%> Oil climbs as upbeat EIA data prevails over OPEC+ output decision> Floating-rate OFZs placed at premium to secondary market at auction> Rusal to buy back $150 mln in dollar bonds for cash> NLMK: 2Q20 trading update good; earnings preview> TengizChevrOil places $1.25 bln in Eurobonds> Tenge has recovered, but room for monetary easing limited
Novolipetsk Steel is a vertically integrated steel manufacturing and production group based in Russia. Co. specializes in the manufacturing of high-quality hot and cold rolled steel in a variety of grades and sizes. Co. is also engaged in production and sales of flat steel products including slabs, hot rolled and cold rolled sheet, electrical steel, galvanized steel, cold rolled sheet with polymeric coatings. In addition, Co.'s areas of manufacturing include sintering, coke production, blast furnace production, steel-making, hot and cold-rolled flat steel production, galvanized and prepainted steel production. Co. exports its products to 70 countries around the world.
United Company Rusal is a producer of aluminium and alloys. Co.'s production chain include bauxite and nepheline ore mines, alumina refineries, aluminium smelters and casting houses, foil mills and packaging production centres. Co. operates in four reportable segments: Aluminium, which is involved in the production and sale of primary aluminium; Alumina, which involved in the mining and refining of bauxite into alumina and the sale of alumina; Energy, which include the mining and sale of coal and the generation and transmission of electricity; Mining and Metals, which includes the equity investment in Co.'s joint venture, PJSC MMC Norilsk Nickel.
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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