MOSCOW, Sep 9 (PRIME) -- The share of non-residents on the Russian OFZ government bond market decreased to 29% in August from 29.5% in July, the central bank said in a report on Monday quoting data of the National Settlement Depository.
“The share of non-resident investment in OFZ on accounts of foreign depositories eased in August to 29% of the combined amount of the OFZ market, according to the National Settlement Depository,” the report read.
The U.S. sanctions against Russia’s sovereign debt did not lead to noticeable sales in OFZ bonds by foreigners, as the combined foreign investment in the bonds shrank by 18 billion rubles in August. The yield on the securities rose only by 8 basis points on August 1 after introduction of the sanctions, while on August 30 the yield stood 18 basis points lower than on August 1 before the sanctions, the regulator said.
“Players of the market anticipated further improvement of long-term credit ratings of Russia, that’s why the August 9 news that international rating agency Fitch upgraded Russia’s rating had almost a zero impact on the OFZ yield curve,” the central bank said.
(65.9981 rubles – U.S. $1)
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