Report
Alexander Golinsky ...
  • Alexander Sychev
  • Alexey Bulgakov
  • Alisa Zakirova
  • Andrey Kuznetsov
  • Andrey Gromadin
  • Anna Kotelnikova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Rodion Lomivorotov

Debt Markets Today - July 24, 2019

CIS EUROBOND MARKETThe Russian sovereign Eurobond market remained sluggish yesterday, and activity was flaccid. The Russia 47 was the sole mover (+0.3 pp).GOVERNMENT DEBTOFZ yields retreated another 2-3 bps along the curve yesterday, falling from the open. Later on, demand for mid-dated issues from local investors strengthened, and yields closed 3-4 bps lower in the belly. Following the Finance Ministry's announcement about today's auction (it will tap the 20y OFZ 26230 issue with a volume limit of R20 bln), yields began to climb at the long end and closed 2 bps higher on the day. Volumes reached R26.4 bln.STORIES> Household debt not critical if accumulation slows> Discussion of additional oil sector tax incentives put off to 2020> DME Airport's decline in passenger throughput accelerates in June> Belarus to open book for local ruble bonds next week> Strong mandate for change in Ukraine> Ukrainian industrial output shrinks 2.3% y-o-y in June
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
Alexander Golinsky

Alexander Sychev

Alexey Bulgakov

Alisa Zakirova

Andrey Kuznetsov

Andrey Gromadin

Anna Kotelnikova

Anton Stroutchenevski

Artem Vinogradov

Rodion Lomivorotov

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