Report
Alexander Kudrin ...
  • Alexey Bulgakov
  • Alisa Zakirova
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Nikolay Minko
  • Rodion Lomivorotov
  • Sergei Konygin

Debt Markets Today - April 12, 2018

CIS EUROBOND MARKETRussian sovereign Eurobonds experienced significant volatility yesterday but generally closed higher. The Russia 47 led the way, climbing 0.7 pp to 95.6% (YTM 5.6%, Z-spread 270 bps), followed by the Russia 27, which closed 0.4 pp higher at 96.1% (YTM 4.8%, Z-spread 198 bps).GOVERNMENT DEBTLocal demand emerged at the long end, but when the ruble slipped back to 65 to the dollar, bids disappeared and yields returned to the previous closing levels. In the evening, following a strong rise in oil prices, yields again declined at the long end. Short-dated paper remained under selling pressure. Volumes remained high.STORIES> Russian prices rise 0.1% last week> Nonresident OFZ holdings surpass 34.0% in February> Government considers support measures for RUSAL
Underlyings
United Company RUSAL international PJSC

United Company Rusal is a producer of aluminium and alloys. Co.'s production chain include bauxite and nepheline ore mines, alumina refineries, aluminium smelters and casting houses, foil mills and packaging production centres. Co. operates in four reportable segments: Aluminium, which is involved in the production and sale of primary aluminium; Alumina, which involved in the mining and refining of bauxite into alumina and the sale of alumina; Energy, which include the mining and sale of coal and the generation and transmission of electricity; Mining and Metals, which includes the equity investment in Co.'s joint venture, PJSC MMC Norilsk Nickel.

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 Kudrin

Alexey Bulgakov

Alisa Zakirova

Anton Stroutchenevski

Artem Vinogradov

Nikolay Minko

Rodion Lomivorotov

Sergei Konygin

Other Reports on these Companies
Other Reports from Sberbank

ResearchPool Subscriptions

Get the most out of your insights

Get in touch