The Lastest Macroeconomic News
28.04.2021 17:47 Eurobonds are now available to everyone
In recent years, the placement of Eurobonds and investments in them has become more and more popular. So, in particular, according to the report of the Accounts Chamber of the Russian Federation, for 2020, despite the sanctions, the Ministry of Finance placed Eurobonds in the amount of $ 2 billion. At the same time, the placement was made at low interest rates, and the yield of securities was: with maturity in 2027 year - 1.125% per annum, in 2032 - 1.85%. The rates were comparable to those of other developing countries. About 40% of the total issue was purchased by domestic investors, which indicates the demand for such securities in the local market. The remaining 60% was acquired by foreign investors. The placement was completed in November 2020 and was deemed successful. Due to US sanctions, it focused on the domestic and European markets, and the demand for securities exceeded supply by 0.7 billion euros.
25.04.2021 17:07 Euro and US dollar volatility amid ECB policy discussions
The world`s leading currencies have shown heightened volatility between losses and gains this week as the forex market struggled to digest the ECB`s statements on future interest rates and evidence of a stronger-than-expected US economic recovery. The euro gained 0.1% on Thursday, even posting stronger gains at its peak, and then declining as Europe continued its monetary policy and left uncertainty about stimulus when the economy starts to grow steadily. Growth peaked at a time when Christine Lagarde, head of the ECB, announced "signs of improvement" in the economic uncertainty.
09.04.2021 11:43 Trading foreign stocks just got easier
In many countries of the world, foreign stock trading has been a very popular investment tool for many years. Such assets are bought not only by large international investors, but also by individuals. Shares of many large companies are currently traded on stock exchanges, and, for example, British or American investors have the opportunity to freely buy shares of Russian companies or companies from other countries.
01.04.2021 13:17 According to Forbes, CentroCredit Bank is one of the hundred most reliable Russian banks
According to Forbes, CentroCredit Bank is one of the 100 most reliable Russian banks. This became known after the publication of the updated rating by experts on March 25, 2021. In the list of “100 Reliable Russian Banks - 2021” by Forbes magazine, CentroCredit Bank took 71st place. The position is assessed as good for this credit institution, especially considering the other ratings and performance in 2020. The magazine's experts have compiled their rating on the basis of financial indicators, international and Russian credit ratings, studied recently.
01.04.2021 12:57 CentroCredit Bank ranks 13th in terms of efficiency in 2020
According to the results of 2020, CentroCredit Bank ranked 13th in the "Most Effective Banks" rating compiled by the Kommersant publication. The management of the credit institution noted the final position as a good result, especially given the fact that many larger banks, including state-owned banks, were left behind. The rating includes the 100 best Russian banks and is calculated taking into account such an indicator as the ratio of profit to the average size of assets in the reporting year.
21.03.2021 14:55 Kazakhstan`s economy will grow in 2021
The prospects for the economy of Kazakhstan for 2021 look pretty good. This is evidenced by recent forecasts published by reputable world organizations. Thus, the rating agency Fitch predicts that the country`s GDP will grow to 3.5% in 2021 after falling by 2.6% in 2020 due to the gradual normalization of economic activity, which is facilitated by plans for vaccination against Covid-19. A World Bank report predicts that Kazakhstan`s economy will grow by 2.5% in 2021 and 3.5% in 2022. Analysts note that 2020 is the most difficult year for the economy of the former Soviet state in the last twenty years. The pandemic has hit harder than previous crises in 2008 and 2015, halting economic activity and weakening global demand and prices for oil, Kazakhstan`s main export commodity. In 2020, the economy of Kazakhstan contracted by 2.6%. Retail (-7.3%) and transportation (-17.2%) saw the largest drop in activity due to travel and economic restrictions, while mining also fell 3.7%. In contrast, construction (+ 11.2%) and agriculture (+ 5.6%) grew.
18.03.2021 15:55 What`s in store for gold in 2021?
In 2020, the global economy faced a new challenge - the COVID-19 pandemic, which led to economic recession in most countries. As a result of the lockdown, many small businesses were forced to close, retail sales fell, and the need for raw materials and energy products decreased. Meanwhile, just at the peak of the pandemic in the middle of the year, gold reached its all-time high of more than $2.06 thousand per ounce. The interest in the yellow metal was understandable: investors used it as a safe haven where they could ride out the hard times. In addition, unprecedented measures to support the economy by governments increased the money supply, which was partially directed, among other things, to the commodity sector. As the pandemic weakened, the price of gold corrected slightly, but experts believe that 2021 will be a good year for the metal.
17.03.2021 18:28 Institutions Bet Big On Bitcoin
According to data from the CME Group, the world`s largest futures and options exchange, bitcoin futures open interest - expressed in contract terms - grew by at least 100% for eight months in a row continuing through in February 2021. Furthermore, the capital tied up in these contracts grew at an exponential 1,405% annual rate from $156 million at the end of February 2020 to $2.34 billion a year later. This kind of growth is more than three times the heady 425% increase in bitcoin`s price over the last year and a further representation of the unprecedented level of demand for exposure to the asset class among institutional investors. What`s more, with bitcoin recently setting a new record above $61,000 and priced at $55,341 as of this writing, institutional interest in crypto and derivative products, such as CME futures, are poised to remain at elevated levels and perhaps grow higher.
12.02.2021 14:48 Russia: Economy contracts modestly in 2020, but challenges to recovery remain
Russian GDP dropped by 3.1% in 2020, faring relatively well thanks to budget support, small services segment, and lack of prior overheating. However, with fixed investments and household income at multi-year lows, and limited room for further stimulus, GDP recovery beyond the base effect would be a challenge. Analysts reiterate our 2.5% GDP forecast for 2021. The drop in GDP, according to the official first estimate, comes after 2.0% growth in 2019. This decline is better than market expectations of -3.5% to -4.0%. The State statistics service (Rosstat) has also provided the structure of annual GDP by usage and production, which generally confirms our initial take on the reasons for the Russian economy's defensive performance in 2020.
11.02.2021 13:00 Inflation in Russia is expected to be at 3.5-4.0% by the end of 2021
With CPI spiking 5.2% YoY in January and near-term context still pro-inflationary, further cuts in the 4.25% key rate are now unlikely. But as long as year-end CPI expectations are within the current 3.5-4.0%, and CPI risks in the EM space are under control, the Russian real rate is high enough for the central bank to avoid a key rate increase in 2021. Acceleration in the Russian CPI from 4.9% year-on-year in December 2020 to 5.2% YoY in January is slightly better than the market consensus of 5.3% YoY, but still this result is likely to call for more caution in the upcoming key rate decision by the Central Bank of Russia on 12 February. The overall CPI trajectory trails the upper range of expectations announced by the CBR at its December meeting.
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