Classic Summer Market
The Russian monetary, foreign exchange and debt markets now is not anything interesting. Even the rate of the ruble in recent days, very nearly did not react to volatility in oil prices. For example, yesterday the cost of barrel of mark Brent has fluctuated in the range of $ 68.5-71, while bivalyutnaya cart most of the day prostoyala a mark 36.85 rbl. In our view, while the prices of black gold to be close to $ 70, the stability of the currency is never exposed. Moreover, we see potential for further strengthening the ruble. The stakes are the money market yesterday remained at around 6.5%.
At the debt market continued sluggish growth of quotations most liquid releases. Some 15-25bp yesterday, added the paper X5-Finance-4 (YTP 18.53%), MTS-4 (YTP 15.19%), CFR-12 (YTP 14.96%), Moscow-45 (YTM 14.93%) and others.
After the release of reports that Gazpromneft is preparing a new bond issue, quotes a marketable Gazpromneft-4 (YTP 14.09%) failed by about 20bp, but by the end of the day returned to the previous level. In the meantime, Loko-Bank announced two loans at 4.5 billion rubles.
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RTS varies in the range of 930-1000 points, further evolution will depend on statdannyh on the United States and Europe
The price of oil still remains at a high enough level, it supports the Russian market
The availability in the market positive stories allows investors to earn in the long
Today in the United States is expected to: a package of labor market dynamics, and factory orders
Asia: Sales of automobiles in the United States огорчили major automakers
The course is kept buying the dollar unchanged - a daily review of the cash markets
Unemployment in the euro area in May rose to 9.5% - the maximum since 1999
Kievskie tax exposed financial and banking fraud with credit for 50 million dollars
MOF is planning a U.S. IPO GM in 2010