Kazakhstan bonds are stable at non-liquid market

17.10.03 00:00
/REUTERS, Almaty, Oljas Auezov, October 17, 03/ - Kazakhstan bonds' prices almost did not change last week at the market, which was not active because of insufficient liquidity, traders say. "There was very significant lack of liquidity at the market, repo rates went up, everybody forgot about bonds, and small deals, which were made, were agreed", - said trader of AFBank. "Possibly, the next week situation will improve in accordance with today's redemption of the National Bank's notes for KZT5.8 bn.", - he added. This week Ministry of finance of Kazakhstan floated small issues of eight- and nine-year bonds to the total amount of about KZT780 m. with single yield of 6.20% APR. In traders' opinion, the only buyer of the securities was, most probably, one of pension assets management companies. Traders presume that in the nearest future currency bonds may become most attractive for dollar, probably, will grow again relative to tenge after achievement of the next minimum on Thursday. "Decrease of dollar's rate relative to tenge occurred, again, because of liquidity problem", - said the trader of ATFBank. "I think, dollar will grow as quickly as it was falling, even more quickly, that's why one should buy currency securities", - a trader of bank TuranAlem thinks. ($1 = KZT147.29) [2003-10-17]