Research and analytics

December 17, 2004
 
BINBankFixed Income Daily: The market continues to wind down approaching year-end with the RU30 moving almost lock-step with the USTEURO, BONDS, OTHER - Daily comments
VTB CapitalDespite the optimistic opening, a late sell-off in UST led Russian eurobonds lower yesterday and the Russian EMBI+ returns index fell 0.3% over the previous day275 KbEURO, BONDS - Daily comments
Raiffeisen Zentralbank OsterreichThe Russian Eurobond market saw small decreases on Thursday.714 KbEURO, BONDS - Daily comments
CommerzbankRussian corporate snapshot122 KbEURO, OTHER - Daily comments
December 16, 2004
 
BINBankFixed Income Daily: RU30's trading at 232 over, we expect this to close to 200 in the early part of 2005155 KbEURO, OTHER - Daily comments
December 15, 2004
 
VTB CapitalFixed Income Comment: The company’s shorter dated credits recovered some of the recent losses275 KbEURO, OTHER - Daily comments
BINBankFixed Income Daily: Panic in the Russian financial market somewhat eased following a number of statements by high-rank government officials ...109 KbEURO, BONDS, OTHER - Daily comments
Alfa BankFixed Income Market Weekly: Disconcerting news about tax claims against telecom companies will limit investor enthusiasm for corporate Eurobonds274 KbEURO, BONDS, OTHER - Weekly comments
Raiffeisen BankDaily Market Monitor: We believe that the rouble is again strengthening and both the recent price decline and the “Vimpelcom story” are easing, creating a more positive environment314 KbEURO, BONDS, OTHER - Daily comments
CommerzbankRussian corporate snapshot121 KbEURO - Daily comments
December 14, 2004
 
BINBankFixed Income Daily: Today, the market has opened a little higher, as investors have begun covering shorts and have renewed direct purchases of cheaper bonds.108 KbEURO, BONDS, OTHER - Daily comments
Raiffeisen BankDaily Market Monitor: We believe Russian Eurobonds will follow US treasuries closely433 KbEURO, BONDS, OTHER - Daily comments
VTB CapitalFixed Income Comment: The market focus remains associated with the accompanying statement and associated expectations for the next FOMC meeting in early February273 KbEURO, OTHER - Daily comments
CommerzbankRussian corporate snapshot122 KbEURO, OTHER - Daily comments
December 10, 2004
 
VTB CapitalFixed Income Comment: Ahead of the holiday weekend, the Russian market remained unsettled by the interest of the tax authorities in the telecommunications sector273 KbEURO, OTHER - Daily comments
BINBankFixed Income Daily: We still recommend that investors pick the Rus-30 at a spread over 250 bp108 KbEURO, BONDS, OTHER - Daily comments
Raiffeisen BankDaily Market Monitor: The Eurobond market was also hit by the fall-out from the Vimpelcom tax claim, with corporate papers hit in the first rows308 KbEURO, BONDS, OTHER - Daily comments
CommerzbankRussian corporate snapshot122 KbEURO - Daily comments
December 09, 2004
 
VTB CapitalFixed Income Comment: Russian debt prices remained strong, although spreads remained comparatively flat at 234255 KbEURO, OTHER - Daily comments
Raiffeisen BankDaily Market Monitor: Meanwhile, OJSC “Russian Railways” (RZhD) managed to place all Rub12 bln worth of bonds just in time.310 KbEURO, BONDS, OTHER - Daily comments
CommerzbankRussian corporate snapshot122 KbEURO - Daily comments
BINBankFixed Income Daily: In view of the recent developments, we do not change our view of the Russian Sovereign Eurobond market and expect the Russia-30 spread to narrow to 200 bp in early 2005154 KbEURO, BONDS, OTHER - Daily comments
December 08, 2004
 
VTB CapitalFixed Income Comment: Sentiment to Russia remains highly uneven274 KbEURO, OTHER - Daily comments
Raiffeisen BankDaily Market Monitor: Stable benchmarks and a lack of news meant there were no dramatics on the Russian Eurobond market on Tuesday316 KbEURO, BONDS, OTHER - Daily comments
BINBankFixed Income Daily: We suppose that, in view of the Christmas holidays, S&P will be able to upgrade Russia’s rating not earlier than in mid-January 2005109 KbEURO, BONDS, OTHER - Daily comments
CommerzbankRussian corporate snapshot122 KbEURO, OTHER - Daily comments
December 07, 2004
 
CommerzbankRussian corporate snapshot122 KbEURO, OTHER - Daily comments
BINBankFixed Income Daily: Judging by a powerful uptrend in Russian Eurobonds, the chances of Russia’s rating increase by S&P in the next few weeks are extremely high106 KbEURO, BONDS, OTHER - Daily comments
Alfa BankFixed Income Market Weekly: A moderate upward price correction (within 0.7%) is likely to emerge on the ruble debt market284 KbEURO, BONDS, OTHER - Weekly comments
VTB CapitalFixed Income Comment: While volumes across Russian corporate and banking sector eurobonds were somewhat muted, the longer duration credits were once again marked higher273 KbEURO, OTHER - Daily comments