Rus News Journal

The market of promissory notes

At the yesterday`s auctions at the Moscow interbank currency stock exchange the tendency of growth of course cost of bonds of all releases has been noted. According to dealers, it is connected by that after auction on placing of the fourth tranche of annual state credit obligations the backlog demand has appeared very big and free monetary resources smoothly have passed to the secondary market. In general today in the market of promissory notes there is many spare cash which go basically on the market of state credit obligations, essentially influencing growth of course cost of bonds.
has a little smoothed growth of a course of state credit obligations that circumstance that the Central bank spent at the yesterday`s auctions dorazmeshchenie last series three-monthly and the fourth tranche of annual bonds, than has increased the offer of these papers in the market. Most considerably (on two percentage points) course cost of three-monthly bonds 31 - j a series and six-monthly bonds of the eighth series has risen. As before, the greatest demand at dealers continued to use most short and most long three-monthly bonds, volume of the auctions on which has made 83 and 106 mlrd roubles accordingly.
yesterday the Central Bank of the Russian Federation has extended the notice on carrying out on March, 1st auction on placing 32 - j series of three-monthly state credit obligations with repayment date on June, 7th. The issue volume makes 2200 mlrd roubles. The volume of not competitive demands for each dealer should not exceed 30 % from total amount of the submitted.
in the market of exchequer obligations, as one would expect, considerable change of the prices it was not observed. Quotations of the majority of distant series remained former, and on some of them has occurred small (to one point) decrease.
falling of the prices on these papers of all tranches became result of speculative operations in the market of currency bonds. The strongest change was undergone by bonds of the second tranche the price on which has decreased on 3/ 8 percentage points to a mark 72 7/ 8 %. Less considerably (on 1/ 8 percentage points) have fallen in price papers of the third, fourth and fifth tranches. As a whole the situation in the market was enough quiet, and activity of dealers - not too high.