Russia FX/Rates Snapshot - August 26, 2019
This morning, strong risk aversion eased after Trump said that China had called and asked to restart the trade talks. However, a representative from China's Foreign Ministry later said that he was not aware that any such call had been made, leaving investors to wait for further comments from China. For now, the markets are calm, likely due in part to the UK banking holiday. The ruble and OFZs are trading flat. Given the tax payments today, we expect the ruble to outperform peers. However, if risk-off sentiment takes hold again after the US markets open, the ruble could end up losing about 1% versus the dollar today.
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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