Russia FX/Rates Snapshot - October 8, 2018
Risk sentiment has soured this morning. The PBoC, seeking to shore up the Chinese economy amid the intensifying trade war, cut the amount of cash that lenders must hold as reserves for the fourth time this year. This has raised some concern among investors, and the yuan is down 0.3%. Meanwhile, other EM currencies, including the ruble, are down about 0.5%. Additional pressure on the ruble is coming from the 1.5% drop in oil prices since Thursday, driven by reports that the US is considering waivers on sanctions against Iran. The euro is also trading weaker against the dollar this morning. Italian bond yields are testing highs as the EU continues to express concern about Italy's planned budget for next year, which Rome says it will stick with.
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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