Rus News Journal

The market of rouble bonds: bears strengthen positions

On Monday, on April, 19th, in the market of rouble bonds there was negative dynamics. After long rally during the current year investors have settled the majority of trading ideas for purchase of rouble bonds, consider in Ingosstrah - Investments . The next wave of a negative in the external financial markets, pressure affecting thereupon upon a rouble exchange rate to bivaljutnoj to a basket and more and more strong fears concerning that the Central Bank of the Russian Federation can not dare at the next decrease in key interest rates have appeared very quite good occasion to smooth fixing have arrived practically in all segments of the debt market. Besides, the tax period and passing placings continues to influence quotations in the primary market.

in the monetary market liquidity level has slightly grown. On the beginning of operational day on April, 19th the rests of means of the credit organisations on correspondent accounts in Bank of Russia across the Russian Federation (including the rests of means on ORTSB) were up to standard 477,1 mlrd rbl. (+48,6 mlrd rbl.), including means for corresponding accounts on the Moscow region - 331 mlrd rbl. (+51,1 mlrd rbl.). The rests of money resources of the credit organisations on depositary bank accounts of Russia for April, 19th made 643,3 mlrd rbl. (- 22,6 mlrd rbl.). The positive balance of operations of Bank of Russia on maintenance of rouble liquidity has made 99,8 mlrd rbl. (- 60,5 mlrd rbl.). Rates MBK (overnight) did not exceed 5 % of the annual.

following the results of trading session the total volume of operations with corporate bonds on FB the Moscow Interbank Stock Exchange has made 8,34 mlrd rbl. During trading day with corporate bonds 807 transactions are concluded. Profitableness of bonds VTB - LizF07 with repayment date in November 2016. Has made 6,13 % (- 1,37 items of the item) System - 03 with repayment date in November 2016. - 8,4 % (+0,26 items of the item), Bashneft02 with repayment date in December 2016. - 9,66 % (+0,01 items of the item), Lenenerg02 with repayment date in January 2012. - 7,85 % (- 0,48 items of the item), Bashneft01 with repayment date in December 2016. - 9,68 % (- 0,01 items of the item). Index CBI CP following the results of trading session has decreased on 0,1 items of the item and has made 96,21 points.

according to the Moscow Interbank Stock Exchange, in a municipal segment 200 transactions for the sum of 2425,18 million rbl. Profitableness of bonds 48 - about with repayment date in June 2022 are concluded. Has made 7,72 % (+0,08 items of the item), Tomsk. About - 7 with repayment date in November 2013. - 8,21 % (- 0,29 items of the item), 61 - about with repayment date in June 2013. - 7,23 % (+0,08 items of the item), 62 - about with repayment date in June 2014. - 7,27 % (+0,25 items of the item), Tomsk. About - 4 with repayment date in December 2011. - 8,24 % (+0,2 items of the item) . The index of municipal bonds MBI CP was reduced to 0,01 items of the item and has made 99,91 points.

the volume of the auctions in the market of the state securities has made 69,76 mlrd rbl. Profitableness of federal loan bond - 25062 with repayment date in May 2011. Has made 4,69 % (- 0,27 items of the item), federal loan bond - 25068 with repayment date in August 2014. - 6,63 % (+0,12 items of the item), federal loan bond - 25072 with repayment date in January 2013. - 6,24 % (+0,15 items of the item), federal loan bond - 26199 with repayment date in July 2012. - 5,86 % (- 0,13 items of the item), federal loan bond - 26200 with repayment date in July 2013. - 6,22 % (+0,13 items of the item) . Index RGBI in comparison with previous day closing has decreased on 0,16 items of the item and has made 134,98 points.

in connection with the beginning of the tax period, and also great volume of releases placed at the moment in the internal primary debt market, decrease in activity of the auctions with turning releases of bonds is probable. Deterioration of an external conjuncture also will not promote optimism of buyers, mark in Bank of Moscow.

analysts Binbanka consider that active pressure upon longer releases will amplify, and demand can return to shorter releases of bonds of the most reliable borrowers of the second echelon where still there is an offer.

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