10 June 2004 05:53
Forex bonds market sees thin trading
MOSCOW. June 10 (Interfax) - Quotes for Russian Eurobonds edged down for a third straight day in thin trading
Thursday.
With the release of U.S. statistics, characterizing inflation and of most concern to the market right now, postponed
to next week, there was little news to trigger any effect on the market and many dealers left for the long weekend in
the second half of the day.
If quotes are forwarded and any transactions made Friday, it will
only be during the first part of the day when London dealers are
The Association of Bond Dealers recommended that dealers take a break on Friday because markets in the United States
will be closed due to the burial of former president Ronald Reagan. In addition, Russian players are off on Monday, June
14.
In the morning, quotes for Russian Eurobonds slid in reaction to a drop for U.S. T-bills. The Russian market later
was mostly stagnant without deals or movement.
An unexpected rise in U.S. unemployment benefit applications last week, news of which came out at the end of the
trading day, had little impact on the market as many players had stopped trading.
trading.
Thus, Thursday was virtually the last working day of the week, one dealer said.
As of 4:00 p.m., Moscow time, quotes were down 0.7%-0.9% for Eurobonds maturing in 2028, and 0.3%-0.4% for bonds
maturing in 2030, 2010 and 2018. Eurobonds maturing in 2005 and 2007 slid by around 0.2%.
Quotes fell 0.2% on average for MinFin bonds, with the exception of sixth tranche bonds, which edged up 0.01%-0.02%.
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