04
June
2012
IFC METROPOL Participates in 9th CIS and Baltic Region Bond Congress
On 31 May and 1 June, the 9th CIS and Baltic Region Bond
Congress was held in Yalta (Ukraine). This regular event, held by
Cbonds Information Agency, is one of the largest events in the CIS
debt securities market. IFC METROPOL acted as an official partner
of the Congress.
Despite the difficult market conditions at the time of the
Congress, over 280 experts of the debt market of Russia and the CIS
registered to attend the event.
At the official opening of the Congress, Sergey Lyalin, General
Director, Cbonds, noted that negative trends in the world economy
and financial system strongly affect the domestic bond markets in
Russia and the CIS. The current situation presents challenges both
for issuers and investors. Nonetheless, the Russian market has been
sufficiently stable in recent years and has not lost its appeal
even in the conditions of high market volatility.
On the first day of the Congress, participants discussed general
matters related to the economy and finances of the CIS countries,
the current condition and prospects of the CIS government bond
market. The second day of the conference was dedicated to the
impact of the European debt crisis on the CIS and the key trends of
the Russian bond market development.
Petr Kadysh, Head of Fixed Income Research, Fixed Income and
Derivatives Department, IFC METROPOL, moderated the first part of
the program. He made a presentation, Influence of the European
Crisis on Russia’s Debt Market.
He spoke about the two main factors affecting the Russian debt
market – the situation in Europe and the policy of the Central Bank
of Russia. The economic dependence of Russia on the European Union
(as compared to other developing countries) is extremely high in
terms of all basic macroeconomic indicators.
Developments in Europe significantly affect our country – the
economy in general and the debt market in particular. When
structural risks increase in Europe, it has an immediate effect on
Russia. Meanwhile, all other internal positive factors are simply
ignored by the market. As a result, interest rates in Russia have
exceeded actual rates in Brazil, which historically has had the
highest rates.
Natalya Yalovskaya from Standard & Poor's and Michael Ganske
from Commerzbank also spoke at the conference. Their presentations
were followed by a discussion.
Overall, the participants noticed that over the past two years
the Congress has become the main forum for the CIS debt market
experts. Cbonds events traditionally offer a strong business
program to market participants, as well as opportunities for
informal communication.
The next Cbonds conference that IFC METROPOL is going to attend
will be the Cbonds Fixed Income Conference: Russia, CIS & CEE
in London in September 2012.
Petr Kadysh moderated the session on the Influence of the
European Debt Crisis on the CIS
Speakers at the session on the Influence of the European
Debt Crisis on the CIS
IFC METROPOL Booth
