Report
Alexander Sychev ...
  • Alexey Kirichok
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Anna Kotelnikova
  • Irina Lapshina
  • Nikolay Minko

Debt Markets Today - April 29, 2019

CIS EUROBOND MARKETRussian sovereign bond quotes were up on Friday ahead of the release of the US 1Q19 GDP reading. Following the publication, US Treasury yields dropped sharply, which helped Russian sovereigns to climb even higher. Longer issues again ended the day with the biggest gains (up 0.2 pp), while the highest volumes went through in the relatively new Russia 35.GOVERNMENT DEBTThe CBR softened its tone on Friday and conceded that a rate cut could come as early as 2Q19. This prompted yields to decline 1-3 bps, and subsequent ruble strengthening only served to intensify the decline. Yields closed 3-4 bps lower. Volumes were up at R42 bln, with the highest turnover going through in the OFZ 26226 (R9 bln), which will be added to the GBI Global EM indexes next month.STORIES> CBR review: First rate cut could come sooner> Alliance Oil reports 4Q18 IFRS results> PhosAgro 1Q19 trading update review and earnings preview> Druzhba pipeline expected to be back online in two weeks
Underlyings
PhosAgro PJSC

PhosAgro is a producer of phosphate-based fertilizers. As of Dec 31 2014, Co. had two segments: Phosphate-based products, which includes mainly production and distribution of ammophos, diammoniumphosphate, sodium tripoly phosphate and other phosphate based and complex (NPK) fertilisers on the factories located in Cherepovets, Balakovo and Volkhov, and production and distribution of apatite concentrate extracted from the apatite-nepheline ore, which is mined and processed in Kirovsk; and Nitrogen-based products,which includes mainly production and distribution of ammonia, ammonium nitrate and urea on the factory located in Cherepovets.

PhosAgro PJSC Sponsored GDR RegS

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 Sychev

Alexey Kirichok

Alisa Zakirova

Andrey Kuznetsov

Andrey Gromadin

Anna Kotelnikova

Irina Lapshina

Nikolay Minko

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