Report
Alisa Zakirova ...
  • Anton Stroutchenevski
  • Artem Vinogradov
  • Ekaterina Sidorova
  • Igor Rapokhin
  • Mikhail Sheybe
  • Olga Sterina
  • Research Team
  • Rodion Lomivorotov
  • Sergey Kolesnikov, FRM
  • Yuri Popov

Debt Markets Today - September 9, 2021. Tinkoff to Test Market with A1 Perps, Russian Inflation Prints

CIS EUROBOND MARKETTrading activity was again subdued in the CIS Eurobond market yesterday. Long-dated Russian sovereign issues added 0.3-0.4 pp and medium-dated issues 0.2 pp amid a decline in US Treasury yields and a modest bid from nonresident investors.GOVERNMENT DEBTYesterday, OFZ yields advanced 1-3 bps, pricing in the correction in US Treasuries the day before and the unimpressive results of the OFZ auctions. Trading volumes yesterday were quite low at just R19.5 bln (50% of the daily volume over the last month).STORIES> Inflation in Russia edges up to 6.7% y-o-y in August> Weekly inflation holds at 0.1% in early September> Bi-Weekly FICC Strategy: CBR to retain hawkish tone> OFZ Auction Results> Nordgold publishes operating and financial results for 1H21> Tinkoff Bank to test Eurobond market with dollar AT1 perps> Belarus considering raising up to $3 bln through EFSD
Underlying
TCS Group Holding Plc Sponsored GDR Class A RegS

TCS Group Holding is a retail banking services group based in the Russian Federation. Co. is principally engaged in providing retail banking services in the Russian Federation through its subsidiaries, primarily Tinkoff Credit Systems. Co., through this subsidiary, fully licensed by the Central Bank of Russia and a member of the Deposit Insurance System, specializes in credit cards. Co. provides online retail financial services through a branchless operating platform. Co. also offers remote access to its financial products and services through its online banking as well as through mobile banking and high-volume call centers.

Provider
Sberbank
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.

Analysts
Alisa Zakirova

Anton Stroutchenevski

Artem Vinogradov

Ekaterina Sidorova

Igor Rapokhin

Mikhail Sheybe

Olga Sterina

Research Team

Rodion Lomivorotov

Sergey Kolesnikov, FRM

Yuri Popov

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