Rus News Journal

The market of rouble bonds: pressure remains

the Auctions on Thursday, on November, 20th, in a segment of not state papers passed without special changes in relation to previous day. A role the first violin defining a leitmotif of the auctions, on - former remains behind the State Banks acting indicators free liquidity. As to smaller players their ability to increase rouble actives on - former is limited to a lack fondirovanija, mark in NOMOS - Bank.

the situation in the monetary market has improved. Liquidity level has grown on 112,9 mlrd rbl. and has made 979,9 mlrd rbl. the Rests on corresponding accounts have made 751,3 mlrd rbl. (+72,7 mlrd rbl.), on deposits 228,6 mlrd rbl. (+40,2 mlrd rbl.) . Rates MBK (overnight) on opening of the auctions made 8 - 9 % annual. According to Bank of Russia, the balance of operations of the Central Bank of the Russian Federation with bank sector has developed negative at level 273,1 mlrd rbl.

In spite of the fact that level of roubles in bank system comes nearer to a mark 1 trln the rbl., appreciable improvement of a situation in the internal debt market will not occur. Forthcoming week will pass large tax deductions (NDPI, excises, the profit tax) that will put pressure upon quotations of rouble papers.

by results of trading session the total volume of operations with corporate bonds on FB the Moscow Interbank Stock Exchange has made 6838,11 million rbl. During trading day with corporate bonds 1056 transactions are concluded. Profitableness of bonds VTB - 5 about with repayment date in October 2013. Has made 16,78 % (+0,33 items of the item), IRKUT - 03 with repayment date in September 2010. - 14,17 % (+3,97 items of the item), VTB - 6 about with repayment date in July 2016. - 17,78 % (+0,23 items of the item) VTB - LizF02 with repayment date in July 2015. - 17,97 % (- 0,35 items of the item), ObKondF - 02 with repayment date in April 2013. - 25,02 % (0 items of the item). Index RCBI in comparison with value on closing of the last trading day has decreased on 0,27 items and has made 82,63 points.

according to the Moscow Interbank Stock Exchange, in a municipal segment 79 transactions for the sum of 445,5 million rbl. Profitableness of bonds 45 - about with repayment date in June 2012 are concluded. Has made 10,64 % (+0,55 items of the item), Mos. Region 8 with repayment date in June 2013. - 24,95 % (- 0,19 items of the item), JarObl - 06 with repayment date in April 2011. - 11,76 % (- 5,28 items of the item), Bashkort5ob with repayment date in November 2009. - 14,24 % (+1,27 items of the item), JarObl - 07 with repayment date in March 2010. - 19,29 % (+1,21 items of the item) . The index of municipal bonds MBI CP in comparison with value on closing of the last trading day has grown on 0,26 items - to 78,9 points.

the volume of the auctions in the market of the state securities has made 197502,54 million rbl. Profitableness of papers of federal loan bond - 25057 with repayment date in January 2010. Has made 8,66 % (- 1,28 items of the item), federal loan bond - 25059 with repayment date in January 2011. - 10,52 % (+0,41 items of the item), federal loan bond - 26198 with repayment date in November 2012. - 9,29 % (- 1,93 items of the item), federal loan bond - 46003 with repayment date in July 2010. - 7,98 % (+0,12 items of the item), federal loan bond - 46020 with repayment date in February 2036. - 8,27 % (- 0,8 items of the item) . Index RGBI in comparison with previous day closing has grown on 2,39 items and has made 105,14 points.

in the primary market has passed auction on placing exchange bonds 11 - j groups Clear up on 1 mlrd Auction passed rbl. by definition of the price of cutting off. Following the results of auction the placing price is defined at a rate of 87,37 % from face value.

in the end of working week hardly it is possible to wait for changes in the market of a rouble debt. Possibly, quotations of the majority of papers will continue decrease.

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