Report
Alexander Golinsky ...
  • Alexey Kirichok
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Irina Lapshina
  • Nikolay Minko
  • Research Team
  • Rodion Lomivorotov
  • Vladimir Lezhnev

Debt Markets Today - August 14, 2020

CIS EUROBOND MARKETYesterday, yet again rising US Treasury yields translated into pressure on Russian sovereign Eurobond prices, though generally the declines were rather modest. The Russia 26 underperformed, losing 0.8 pp. Meanwhile, the Russia 23, 28, 42 and 43 ended the day with limited losses of 0.3-0.5 pp.GOVERNMENT DEBTIn the OFZ market, offers by nonresidents pushed yields 2-5 bps higher across the curve, although it appears that there were no actual deals. Trading volumes were a rather low R11 bln.STORIES> Russia inflation monitor: Still no upward pressure in July> Rusal 1H20 IFRS results in line; 2H20 outlook gradually improving
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 Golinsky

Alexey Kirichok

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Irina Lapshina

Nikolay Minko

Research Team

Rodion Lomivorotov

Vladimir Lezhnev

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