In general, the bond market dominated by a rising price trend
Domestic
With the stabilization of the positions of the ruble in the foreign exchange market participants returned to the debt market confidence. Trading activity was still taking place at very high volumes, but in general on the bond market dominated by a rising price trend. In the near future, due to improved investor sentiment on the foreign markets can be expected to remain cautious growth of quotations of ruble bonds.
The main demand concentrated in the most liquid and safe securities AHML, Moscow, Russian Railways and Lukoil NK. Most turnover grew AHML-3 (1.74% of the closing price on Tuesday), Moskva44 (0,99%), Moskva54 (0,85%), HKF-2 (0.71%), SamarObl-5 (0 , 5%), RSHB-7 (0.41%), CFR-16 (0.21%), Moskva63 (0.2%), MTS-4 (0.19%), VTB-6 (0,16 %), Lukoil-18 (0.15%), VTB-Leasing-3 (0.1%), System-1 (0.08%), VTB-Leasing-4 (0.05%), Petrokomb-4 (0.02%). Decreased quotes the following Paper - VTB-5 (-0.03%), YarObl-8 (-0.09%), FSK-2 (-0.56%), Dixy-1 (-5.33%).
Liquidity continues to decrease - the amount of funds on deposits and correspondent on the morning of Wednesday fell to 115.1 billion rubles. and amounted to 774.9 billion rubles. The rates of O /N were about 6.3% per annum, 3-month rate at 11.8% per annum. The price of oil has stabilized in the 60-62 $ /barrel than reassure the Russian currency market. At the end of the second half of the trading day on Wednesday, the dollar fell by 1.34% to 31.817 rubles., The euro rose 0.32% to 44.863 rubles. Course bivalyutnoy basket of the ruble fell by 0.75%, and amounted to 37.69 rubles.
Market US Treasuries and eurobond
However, with good reporting of financial sector and Intel published macroeconomic statistics is also in no hurry to strongly depress investors. Published data on consumer price indices (CPI) does not differ much from the experts - CPI for June to May grew by 0.7% (forecast 0.6%), and a similar index, but the annualized showed a decrease of 1,4% (forecast - a decline of 1.5%). More interesting was the local index, the index of manufacturing activity in New York in July, down only to 0.55 percentage points, while the forecast had promised a much weaker result - a reduction of 5p.p. Recall that the rate of New York for the preceding period showed a decline of 9.41 percentage points
Against the backdrop of the growing calm in the western areas, investors seeking to shift to more profitable instruments, reducing thus its position in the market for US Treasuries. In anticipation of the market opening on Wednesday, US Treasuries curve shifts down, the first under the knife are long paper - UST-2 - 0.955% per annum (1b.p.), UST-10 - 3.513% per annum (5b.p.) , UST-30 - 4.426% per annum (5b.p.).
In the segment of Russian Eurobonds continues moderate demand - Rus-30 grew at 0.35% to 98.72% of the nominal yield the release of 7.725% per annum (-8b.p.). Spread between the Rus-30 - UST-10 decreased by 12 bp up to 421 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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