Report
Alex Fak ...
  • Alexander Kudrin
  • Alexander Sychev
  • Alisa Zakirova
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - May 15, 2018

CIS EUROBOND MARKETRussian sovereign Eurobonds again closed lower yesterday, pressured by a sharp rise in the 10y US Treasury yield. The Russia 26 fared the worst, shedding 0.4 pp to 101.1% (YTM 4.6%, Z-spread 161 bps), followed closely by the Russia 27 and 47.GOVERNMENT DEBTThe OFZ market was not particularly active yesterday. Yields remained little changed in the middle and at the long end of the curve, while they were up slightly at the short end. The 2y OFZ 26214 (May 2020, 6.40%) and 3y OFZ 26217 (August 2021, 7.5%) rose 10 bps and 5 bps in yield, respectively, the sharpest moves along the curve. The OFZ 29006 was the sole mover among the floaters, with a 10 bp rise in price.STORIES> Current account surplus reaches recent high of $12.2 bln in April > Rosneft reports 1Q18 IFRS results> Kazakh industrial output slows in April on weaker manufacturing
Underlyings
Rosneft Oil Co.

OJSC OC Rosneft is a vertically-integrated Russian oil and gas company with upstream and downstream operations in each of Russia's oil-producing regions. Headquartered in Moscow, Co. operates ten oil and gas producing enterprises across Russia and is involved in over ten exploration projects. In addition to its upstream operations, Co. also owns two refineries, which have a combined capacity of 10 million tons per year, as well as four main oil export terminals and a nationwide network of over 600 service stations. Co.'s downstream operations consist of its crude oil export structure, refining operations and nationwide network of marketing subsidiaries.

Rosneft Oil Co. 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
Alex Fak

Alexander Kudrin

Alexander Sychev

Alisa Zakirova

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Rodion Lomivorotov

Sergei Konygin

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