11 June 2004 05:49
Trading brisker, but liquidity remains low
MOSCOW. June 11 (Interfax) - OFZ trading volume picked up to 529.367 million rubles, but this had little impact on
market liquidity with over 80% of the day's volume concentrated on deals with OFZ-AD 46001 (maturing in 2008)
bonds.
OFZ-FD 27019 (maturing in 2007) posted the highest climb of 230 basis points to 114% in volume of just 242,820
rubles.
OFZ-PD 26003 (maturing in 2005) saw the biggest drop of 70 basis points and fell to 102% in volume of 26,520
rubles.
Average yield for OFZ-FD and OFZ-AD bonds slid 0.28% to 7.14%.
Weighted average yield for OFZ-AD 46014 (maturing in 2018) was
Only the major banks are trading government ruble bonds because they do not have any ruble liquidity problems. Even
the approach of a three-day weekend did not encourage brisker trading among the rank-and- file players.
"Investors usually invest spare funds in government ruble bonds before long weekends. But it looks like there
was not much spare cash about and not everybody had some," one dealer said.
There was not much selling on the market. "Those that had bonds left decided to hold on to them over the long
weekend," he said.
Analysts expect a calm market on Tuesday, June 15 as dealers remain
on the sidelines ahead of the Finance Ministry auction offering 6
8.24%.
OFZ-AD 46001 went up just 3 basis points to 109.95%, which corresponds to yield of 7.27%.
There were 15 deals with GKO 21172 bonds totaling 27.866 million rubles.
billion rubles in OFZ-AD 45001 bonds on June 16. [RU ASIA EUROPE EEU EMRG GVD INSI] me
[Interfax] |
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