Sovereign Fixed Income - Kazakh Market Debut Nears
The impending launch of Clearstream and Euroclear settlement is a milestone in Kazakhstan's bid to attract foreign inflows into its local debt market. The country's economic and monetary policy outlooks are more favorable than Russia's when it made its local market Euroclearable in 2013, but its FX market lacks depth and sophistication and the secondary fixed income market lacks liquidity. We expect investors to build positions in the coming months and to end up being concentrated in short-term NBK notes.
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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