每日更新 - 沙特阿拉伯石油和俄罗斯债券 The Daily Update - Saudi oil and Russian bonds

据本周的报告表明,阿布扎比国家银行(NBAD)和第一海湾银行(FGB),这两个阿布扎比最大的国有银行正考虑合并。根据知情者的消息,本次合并将缔造一个市值差不多300亿美元的银行,比渣打银行和德意志银行规模还要大。根据2016年第一季度的数据可知,阿布扎比国家银行与第一海湾银行合并后的合并资产可达1710亿美元。若合并完成,就资产方面来说,该合并体将会是中东及非洲地区的最大的银行,超过2016年资产额为1500亿美元的卡塔尔国民银行。

该合并将使得酋长国金融自由贸易区,即去年推出的阿布扎比全球市场(ADGM)更为庄重,并且将增大国际扩张的前景。推动阿布扎比成为中东及非洲地区的金融技术和金融科技都会的这一消息,无疑将有助于该国在偏离石油行业而转向多元化领域方面继续努力。

沙特阿拉伯的能源部长哈利德﹒阿尔﹒法力赫,在他待在中东以及访美期间都坚称,供过于求的情况“已经消失了”,他说,剩下的问题是“库存过剩”。他继续讨论石油输出国家组织主要人物对于平衡“一旦市场状况好转供应和需求问题”的“战略重点”,另外,“沙特阿拉伯的石油政策根植于责任,沙特阿拉伯正在寻求能够维持这种平衡同时对于生产者和消费者来说都能给予适中价格的方法”。他对那些在短期内期待更高价格的生产商发出警告说,“石油输出国家组织过去采用的手段是——锁定特定价格——但这种手段并不能长期有效......那会制造市场混乱,并最终会损害生产者和消费者的利益”。目前,布兰特原油仍维持在每桶50美元之上的水平。

同样是石油问题,让我们看看第二大石油生产国,由于央行维持了十个月后又恢复降息,俄罗斯的基准收益率已下降到近两年的低点。我们持有一些今年到目前为止表现最好的硬通货准主权债券。国有俄罗斯天然气工业股份公司8.625% 2034 (美元)的交易降低了125个基点收益率为6.2%,俄罗斯铁路7.487% 2031(英镑)上涨155个基点达到了6.6%。这两个仓位继续分别提供16.8%和23.1%的风险与预期回报对等的诱人收益。

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