- Alisa Zakirova
- Andrey Gromadin
- Anna Kotelnikova
- Ekaterina Sidorova
- Nikolay Minko
- Olga Sterina
- Research Team
Debt Markets Today - February 15, 2021
CIS EUROBOND MARKETThe jump in US Treasury yields on Friday put some pressure on Russian sovereign Eurobonds, particularly at the long end. For the day, the steepest decline in price was in the Russia 47 and Russia 42, which fell 1.0 pp and 0.8 pp, respectively.GOVERNMENT DEBTOFZ yields continued to press higher on Friday and got an additional boost from the CBR's indication that further rate cuts are unlikely (see the article below). Not surprisingly, short-dated issues saw the biggest moves, with yields closing 10-15 bps higher, while yields at the long end added 6-9 bps. Trading volumes totaled R27 bln on Friday, with about a third of that amount attributable to long-term issues. There was almost no trading activity near the middle of the curve.STORIES> CBR signals end to rate-cut cycle> Rosneft 4Q20 EBITDA in line, one-offs boost bottom lineOJSC 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.
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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