Dmitry Dudkin Addresses the Cbonds Russia & CIS Fixed Income Conference
Dmitry Dudkin, Head of Fixed Income Research at URALSIB Capital Investment Company, made a presentation at the Cbonds Russia & CIS Fixed Income Conference in London on September 16–17, 2010.
The presentation titled “A New Phase in the Development of the Russian Federal Loan Bonds Market” drew the attention of foreign and Russian investors to the prospects of Russian public debt in local-currency bonds.
As noted by Dudkin, the Russian Ministry of Finance had already announced its withdrawal from offsetting the budget deficit with reserves and its intention to step up borrowing by selling government bonds. The low volatility of the Russian ruble exchange rate, together with stable oil prices, has made Russian local-currency bonds more attractive. Dudkin also emphasized that ruble bonds’ rate of return is now higher than it was prior to the economic crisis and has reached its historical maximum. In 2010, Russia expects to sell federal bonds worth up to one trillion rubles.
Dudkin argued that Russian government bonds have better prospects domestically than on foreign markets and that comparing the Russian public debt market to the Brazilian and Mexican markets shows that the former has greater growth potential.
You can view Dmitry Dudkin’s presentation in the attached file:
Dmitry_Dudkin_CBonds_London_Sep_2010.pdf (394 Êá)
22 september, 2010
