06 May 2004 05:53
Govt debt continues to slide in light trading
MOSCOW. May 6 (Interfax) - Prices for government ruble-denominated debt continued to slide as investors were still
unwilling to commit themselves during the few working days between the two sets of May holidays in Russia.
Low banking sector liquidity and a shortage of available funds as reflected by a reduction in corespondent account
balances and increase in overnight credit rates were also thought to be reasons for the lull in trading.
The day saw 16 deals totaling 4.935 million rubles for GKO 21172.
The reverse repo auction for OFZ 46009 scheduled for May 6 was
called off in view of the low level of demand. The Central Bank had
planned to auction 36.64 billion rubles in amortization OFZ with
Trading volume was 168 million rubles, with 60% or 100 million rubles of this falling to OFZ-FD 46002 maturing in
2012. The paper fell 16 basis points and yielded 7.92% annually.
Other issues also fell save for OFZ-FD 27012, which matures in August this year and which went up 3 basis points.
Average-weighted yield for OFZ-AD and OFZ-FD grew 0.31% to 6.49% annually.
mandatory buy-back on the Moscow Interbank Currency Exchange (MICEX) with settlement on May 7.
Trading is likely to be low and price movement negligible on Friday as well, analysts believe. [RU ASIA EUROPE EEU
EMRG GVD INSI] pr
[Interfax] |
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