Ruble liquidity in the week declined, but nevertheless maintained a comfortable situation at the Interbank

Domestic

In a week we have seen steady growth in bond market. The main support for the debt situation has had a smooth rise in the prices of black gold, exceeded 67 $ /barrel, and stabilization of the positions of the ruble on currency bid rate for that basket bivalyutnoy varied within 36,8-37,1 rub. An interesting point was the intensification of market gosbumag - the ruble stable, and acceptable rates of NDF increased the attractiveness of this segment of the debt market.

At mid-day trading on Friday with the largest turnover grew Magadan-8 (1.01% of the closing price on Thursday), Cedar-3 (0.81%), Dalsvyaz-5 (0.68%), VTB -6 (0.4%), VTB-5 (0.18%), TehNikol-1 (0.14%), Moskva45 (0.09%), Petrokomb-2 (0.06%), OGK2-1 (0.05%), RZD-9 (0.02%). Decreased quotes the following Paper - TGK2-1 (-0.09%), PTPA-1 (-0.12%), HES-2 (-0.61%), LSR-2 (-3.8%).

Ruble liquidity in the week declined, but nevertheless maintained a comfortable situation atInterbank. The amount of funds on deposits and correspondent on the morning of Friday fell to 54.2 billion rubles. and amounted to 744.4 billion rubles. The rates of O /N were about 6.6% per annum, 3-month rate at 11.97% per annum. NDF curve looks like this - 3M NDF - 10.74%, 6M NDF - 12.16%, 1Y NDF - 13,02%. The negative dynamics of commodity markets became enthusiastic in the course of the Russian ruble. At the end of the second half of the trading day on Friday the dollar fell by 0.49% to 32.997 rubles., Euro at 0.51% to 44.154 rubles. Course bivalyutnoy basket of the ruble fell by 0.49%, and amounted to EUR 36.916.

Market US Treasuries and eurobond

the current week US Treasuries market was volatile again. On Tuesday, treasury bills significantly, by 5-15 bp on the curve, declines in yield, responding thus to the very cautious abstracts B. Bernanke to Congress on the state of U.S. economy and the last redemption UST from the market by the Fed. And on Thursday the paper cannon back to earlier levels after the publication of the exact volume of the primary auction in the coming week. Corporate reporting non-financial sector was mostly positive, as was published statistics differently - good sales growth in the sector of real estate against the backdrop of the continuing growth of unemployment. The rally in the stock market, of course, also helped to reduce positions in low-income instruments.

Following the positive statistics on the real estate market on Friday, US Treasuries curve gradually resumes its upward movement - UST-2 - 1,035 pa (2b.p.), UST-10 - 3.679% per annum (2b.p.), UST-30 - 4.563% per annum (1b.p.). In the segment of Russian Eurobonds continues the growth of quotations - Rus-30 grew at 0.16% to 100.64% of face value, return the release of 7,385% per annum (-5b.p.). Spread between the Rus-30 - UST-10 decreased by 7 bp up to 371 bp


In Bond Market You can find information on issues of corporate and municipal bonds, as well as learn about the planned deployment, the outcome of bidding MICEX and read the comments on the bond market.

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