18 June 2004 05:43
OFZ trading picks up Friday
MOSCOW. June 18 (Interfax) - OFZ trading volume rose to 265.553 million rubles on Friday, but over 65% was
concentrated in deals with OFZ-FD 27025 bonds (maturing in 2007).
Quotes for 27025 bonds slid 3 basis points to 102%. All 33 transactions were made at the same price, indicating the
participation of a major player, analysts say. Yield was 6.61%.
Amortization OFZ continued to climb, especially OFZ-AD 46014 bonds (maturing in 2018), which climbed 179 basis points
and yield dropped to 8.12%. Quotes for the other OFZ-AD bonds went up 30 to 40 basis points.
Some improvement on the monetary-financing market encouraged gains, said Andrei Ilinsky of RosEvroBank. General
optimism among investors after President Vladimir Putin said the government did not want to see Yukos bankrupt also
provided support for the OFZ market.
The major players may be trying to push quotes up before the end of the first half in order to improve financial
indicators. Thus, they will probably keep prices at current levels until the end of the month, Ilinsky said.
Weighted average yield for OFZ-FD and OFZ-AD bonds dropped 0.84% to 7.07%.
"Demand for short-term bonds has increased recently, including for GKO. Those dealers that doubt further growth
potential seem to prefer to insure their risks and buy short instruments," Ilinsky told Interfax.
There were 12 deals with GKO 21172 totaling 37.983 million rubles.
Analysts predict thin trading on Monday. [RU ASIA EUROPE EEU EMRG GVD INSI] me
[Interfax] |
RUSSIA IN FACTS
