Russia FX/Rates Snapshot - August 10, 2021. Dollar Advances Globally on More Hawkish Fed Rhetoric, Ruble Also Pressured by Falling Oil
Today, the focus will be on a speech by Cleveland Fed President Loretta Mester on inflation risks, as well as the NFIB US Small Business Optimism Index for July. We think the global dollar strength could stall, however, as investors may take a pause before the important July US inflation print due tomorrow. We expect the Finance Ministry to announce that it will place the same two issues as two weeks ago: the 8y OFZ 26237 (March 2029) and the 15y OFZ 26240 (July 2036). This is in part because both of these "new" issues have seen elevated demand from nonresident investors recently.
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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