Report
Alexey Kirichok ...
  • Alisa Zakirova
  • Andrew Keeley
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Igor Rapokhin
  • Nikolay Minko
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Yuri Popov

Debt Markets Today - April 27, 2021

CIS EUROBOND MARKETThe Russian sovereign Eurobond market continues to consolidate after last week's rally. Most of the activity was concentrated in the middle of the curve. At the end of the day, only the Russia 47 and Russia 43 had moved much, each having fallen by 0.2 pp in price.GOVERNMENT DEBTTrading in OFZs was thin yesterday, with just R19 bln traded on the Moscow Exchange (down from R51 bln on Friday). The slope of the curve continued to flatten as the CBR's fairly hawkish rhetoric following Friday's meeting was being priced in. Yields on issues maturing in 2y or less climbed 15-20 bps, the 2-4y segment saw yields move 5-10 bps lower, while yields on longer-dated paper dropped 1-2 bps.STORIES> Financial reserves limit impact of geopolitics on economy> Fed: Better outlook to be noted, QE tapering possibly discussed> Public's inflation expectations highest since February 2017> OFZ Weekly Flows: Selling by nonresidents continued> Polyus: Weakish 1Q trade update but 2021 output guidance on track> CBR publishes 1Q21 sector data> Moscow to place 3y local bond today> Ukraine prices first Eurobond issue of the year> Ukrainian economic dynamics improve in March> National Bank of Kazakhstan keeps policy rate at 9%
Underlyings
Polyus (GDR)

Polyus PJSC

PJSC Polyus is an open joint stock company based in Russia. Co. is engaged in operations as a gold production company. Co.'s major assets are: in Krasnoyarsk region, Olympiada deposit as well as Blagodantoe, Titimukhta, Tyrada, Olenii, Razdolinskaya, Zyryanovskaya and Panimba fields; in Irkutsk region, Zapadnoe, Verninskoe, Pervenets, and Chertovo Koryto and Mukodek goldfields as well as some 94 placer deposits; in Magadan region, Natalka deposit and smaller Degdekan and Vostochnoye fields; in the Republic of Sakha (Yakutia), Kuranakh ore body and Kyutchus field as well as 50% interest in the giant Nezhdaninskoye field; and in Amur region, Bamskoe gold field.CJSC Deloitte & Touche CIS

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
Alexey Kirichok

Alisa Zakirova

Andrew Keeley

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Igor Rapokhin

Nikolay Minko

Olga Sterina

Research Team

Rodion Lomivorotov

Yuri Popov

Other Reports on these Companies
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Alisa Zakirova ... (+8)
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Igor Rapokhin
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov

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