Deals from Domodedovo Airport, Gospodarstwa Krajowego; oil, elections eyed; Gazprom on deck

By Christine Van Dusen

Atlanta, Nov. 3 – Russia’s Domodedovo Airport and Poland’s Bank Gospodarstwa Krajowego sold notes on Thursday that saw investors focusing on lower oil prices and the Federal Reserve’s decision to hold off on a rate hike.

“This certainly paves the way for a rate hike in the Dec. 14 meeting as Fed futures price in a near-80% probability for such a move,” a London-based analyst said. “The FOMC meeting left markets fairly unimpressed and revealed nothing unexpected as we are quickly approaching the U.S. elections.”

It is likely that volatility will persist until election day, according to a report from Schildershoven Finance BV.

In trading, bonds from Turkey were mostly flat, following a report that consumer price inflation slowed in October.

“Slow open versus yesterday,” a trader said. “Cash still feels heavy, overall flat to 1 basis points tighter.”

Bonds from South Africa continued to outperform on Thursday after charges were dropped against Finance Minister Gordhan.

Meanwhile, bonds from Azerbaijan were active as oil prices hit a low, with Brent crude declining 47 cents and U.S. crude moving down 68 cents.

The State Oil Co. of the Azerbaijan Republic (Socar) was a particular underperformer, another trader said.

In other news, Russia’s Gazprom will set out on Nov. 7 for a roadshow to market a euro-denominated issue of notes, a market source said.

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