Sberbank - Russia FX/Rates Snapshot - August 16, 2021. Ruble May Take Step Back Amid Downbeat Global Sentiment

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Sberbank

Alisa Zakirova ...

Igor Rapokhin
Yuri Popov

Russia FX/Rates Snapshot - August 16, 2021. Ruble May Take Step Back Amid Downbeat Global Sentiment

This morning, the dollar has rebounded and oil prices have fallen amid a souring in global sentiment in the wake of disappointing July industrial production and retail sales data from China. Against this backdrop, the ruble has weakened to USD/RUB 73.4. We do not expect sentiment to improve today, as the risks to global economic growth seem to be mounting. The net inflow of nonresident money into the OFZ market shrank to just R19 bln last week and was concentrated in the "new" issues, the 10y OFZ 26239 (which saw net inflow of R22.6 bln), the 20y OFZ 26238 (R4.0 bln) and the 8y OFZ 26237 (R3.1 bln).

16/08/2021 5 EN

Provider

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.

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Analysts

Alisa Zakirova

Igor Rapokhin

Yuri Popov

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Russia FX/Rates Snapshot - August 16, 2021. Ruble May Take Step Back Amid Downbeat Global Sentiment

Russian Consumer - Unemployment and Income: The Outlook for 2022

Russian Banks - What We Know at This Stage

Commodities Daily - March 24, 2022

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