Domestic
Monday on the bond market expected decline in prevailing quotations debt. The first hit deteriorating market conditions have taken on the most liquid securities first tier - Paper Railways, Moscow, Moscow region, and stock bonds Lukoil. The volume of trades the first day working week has been traditionally low. It is known that the prolonged decline in oil prices last week, докатилоÑÑŒ to the Russian markets - a course bivalyutnoy basket on Friday surpassed the milestone of 38 rubles. And sow fear among investors repeated waves of devaluation. The dynamics of the oil market on Monday was the calm - the price ranges at the levels of 60-61 $ /barrel. We believe that even if the stabilization of commodity prices in the near future, the situation on the currency market will remain volatile due to increased speculative sentiment. In our opinion, because a sufficient amount of foreign reserves ($ 409 billion for the last week), the Bank of Russia is quite able to keep the course of Russian Ruble stated in the early years, the borders of 36-41 rubles. bivalyutnoy to the basket. Additional pressure on the debt market this week will have a corporate placement on the primary market of 12.4 billion rubles. and the beginning of the next tax period - on Tuesday will be the payment of tax.
At mid-day trading on Monday with the largest turnover grew KBRenKap-1 (0.36% of the closing prices on Friday), Karelia-2 (0.31%). Decreased quotes the following Paper - RZD-12 (-0.02%), CFR-11 (-0.06%), Petrokomb-4 (-0.09%), Lukoil-18 (-0.15%), Russian Railways -16. (-0.15%), GazpromA4 (-0.25%), RSHB-7 (-0.42%), Lenenergo-3 (-1.23%), MosObl-7 (-1.38 %).
The level of liquidity continues to decline - the amount of funds on deposits and correspondent accounts on Monday morning fell to 74.9 billion rubles. and amounted to 914.9 billion rubles. The rates of O /N were about 8.25% per annum, 3-month rate at 12.5% per annum. As already noted - an extended decline in prices in the oil market also affected the positions of the ruble. At the end of the second half of the trading day on Monday, the dollar rose 0.35% to 32.812 rubles., Euro on 0,5% to 45.855 rubles. As a result - a course bivalyutnoy baskets to ruble grew at 0.48%, and amounted to 38.68 rubles.
Market US Treasuries and eurobond
At week all the attention of investors will be riveted on the emerging statistics and published accounts of major banks. And if the statistics of most market participants are not pleasant surprises are waiting, the banking sector is quite capable to surprise investors by their results. Past the second quarter a wave of optimism should not disappear without trace, leaving no trace on the financial results for the banking sector. However, even successful speculation on the stock sites are unlikely to remain unnoticed by the problem of growth of overdue debts. In anticipation of the opening weekend after the US Treasuries curve takes a more correct form, thanks to stronger demand in the short papers - UST-2 - 0.899% per annum (-1b.p.), UST-10 - 3.295% per annum (-1b.p.) , UST-30 - 4.208% per annum (1b.p.).
In the segment of Russian Eurobonds continued smooth decline of quotations - Rus-30 cheaper at 0.18% to 97.47% of the nominal yield the release of 7.952% per annum (1b.p.). Spread between the Rus-30 - UST-10 has increased by 2 bp up to 465 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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