04 June 2004 05:51
OFZ prices largely unchanged Friday on low trading
MOSCOW. June 4 (Interfax) - Quotes for the majority of OFZ on Friday changed insignificantly in both directions, on
extremely low trading volume.
According to dealers with Moscow banks, the main reason for low demand for government securities is the low yields,
which are currently not attractive to most investors. In addition, on June 4 some banks had difficulties with ruble
liquidity, presumably due to the unstable situation on the market for interbank credits in connection with the closure
of CreditTrust bank, which limited their purchasing ability, the specialists said.
The growth leaders on June 4 were OFZ-PD 26003 maturing in 2005, which gained only three basis points to 103.03% of
face value.
The largest drop in average weighted price - by 11 basis points - was in the OFZ-AD segment, for series 46014
maturing in 2018. By the end of the trading day these papers were at 106.04% of face value.
or OFZ-AD 45001, maturing in 2006 by 165 basis points to 107.68% of
face value. However, the low liquidity of these papers - on Friday
Trading volume on the OFZ market amounted to 278.814 million rubles, over 36% of which was accounted for by OFZ-AD
46003, maturing in 2010, and another 27% - OFZ-AD 46001, maturing in 2008.
By the end of the trading session on June 4, the average weighted price for OFZ-AD was unchanged at 112.52% of face
value, and OFZ-AD 46001 - up by 2 basis points to 110.3% of face value.
The average weighed yield on the OFZ-AD and OFZ-FD market increased by 1.18% to 6.88% per year, which was due to a
drop in price
there were only two deals totaling 96,908 rubles - makes it difficult to judge the formation of a trend.
Two deals were carried out with GKO on Friday - amounting to 5.343 million rubles.
Experts forecast that trading on Monday will be low, which is traditional for the start of the week. [RU EUROPE ASIA
EEU EMRG GVD INSI] rd <>
[Interfax] |
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