Investors once again demonstrated a record appetite for state bonds of the Russian Federation.
Although the Ministry of Finance could not update the record for the maximum volume of placement of “classic” federal loan bonds on Wednesday, the level of demand still turned out to be a record.
A total of 124.6 billion rubles worth of securities were sold.
Experts note that the demand for assets in emerging markets remains, and the dynamics of the ruble exchange rate is favorable for the carry trade, which is one of the main factors driving speculative capital inflows to the Russian market.
At the same time, a decrease in the key rate of the Central Bank of the Russian Federation is expected, which will lower the yield of OFZ, so investors are trying to buy securities now.
The second auction for the placement of inflationary federal loan bonds with a maturity in 2028 of 5.25 billion rubles. found invalid, as there were no applications at affordable prices. Mostly weak demand for such bonds is associated with a slowdown in inflation.
In March, foreign investors invested 120.4 billion rubles in OFZ. – This is the maximum for the last year and a half.
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