Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers I > Headlines for Indonesia > News item |
Russia rebounds a bit; Asian rally continues; demand for Kazakhstan; Indonesia closes higher
By Christine Van Dusen
Atlanta, Dec. 19 – Bonds from Russia moved up on Friday morning after taking a beating this week on the back of lower oil prices and a rate increase intended to fortify the ruble.
“It’s good to see the market having some recovery off the lows,” a London-based trader said.
The currency strengthened as oil prices stabilized and the Russian finance minister said the ruble should rebound in the new year.
Russia’s 2030s got a lift on Friday morning, to 104 7/8, the London trader said.
“Russian oil and gas names – Gazprom, Sibneft – are up a point,” he said.
Also on Friday morning, bonds from Asia continued to rally, with high-grade bonds moving as much as 5 basis points tighter, another London-based trader said.
“Flow in Asia was rather quiet,” he said. “We saw good real-money demand out of London, looking to square positions before year-end. Very thin liquidity.”
Sovereigns from Indonesia opened unchanged but rallied into the close, ending the day ¼ point to ½ point higher, he said.
In other trading, good demand was seen for bonds from Kazakhstan.
“That’s in part because of short-covering, with oil bouncing, but partly a move to go overweight versus the index,” he said.
From Turkey, investors were interested in notes from financial companies, he said.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.