- Anton Stroutchenevski
- Artem Vinogradov
- Cole Akeson
- Ekaterina Sidorova
- Igor Rapokhin
- Olga Sterina
- Research Team
- Rodion Lomivorotov
Debt Markets Today - February 21, 2022. Russian GDP, Geopolitics Weekly Outlook, Nonresident Flows into Russian Sovereign Eurobonds, Severstal Results
CIS EUROBOND MARKETA worsening geopolitical backdrop continued to drive FSU sovereign bonds lower, while 10y EM benchmarks again traded flat. Long-dated Russian issues lost 2.4-2.7 pp, while medium-term issues fell 1.2-1.5 pp. GOVERNMENT DEBTSwings in the FX market continued to drive ruble rates on Friday. OFZs widened 2-7 bps in yield on the day, as the ruble took a hit from another wave of negative news on the Donbass crisis. Peer EM local debt markets traded more or less flat.STORIES> Russian GDP climbs 4.7% in 2021> Sharp escalation in tensions ahead of diplomatic meetings this week> Significant nonresident outflow from Russian sovereign Eurobonds in 4Q21 amid deteriorating geopolitical backdrop> Severstal reports 4Q21 and 2021 operating results> Severstal reports 4Q21 and 2021 financial results
PAO Severstal is an integrated Iron & Steel works company with a range of products: hot and cold rolled steel, roll-formed shapes and pipes, rolled sections, a large group of coke products and by-products. Co. also has various social responsibilities such as the operation and maintenance of sports complexes, holiday and recreational facilities and public housing. Co.'s operations are organized along three principal divisions: Severstal Russian Steel engaged in crude steel production; Severstal Resources engaged in the production of iron ore concentrate, pellets and coking coal; and Severstal International engaged in the production of high-quality flat-rolled products.
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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