Internal market:

We see the growth of trading activity on the background prevalence of positive price movements in the ruble debt market. The reason, in our opinion, was the increase in ruble liquidity after the bulk of budgetary payment on the one hand and having a place of optimism on foreign markets (the growth in the stock and commodity trading floors), which strengthens the ruble. Continued interest of large investors to secure bonds allowed Railways to reduce the benchmark return is posted on the 23-th issue of 15 billion rubles. to 9-9,2% per annum. At mid-day trading on Tuesday with the largest turnover grew OGK2-1 (2.82% of the price discovery), MosObl-6 (0,85%), VTB-5 (0.29%), MTS-5 (0,25 %), System-3 (0,21%), CFR-15 (0,19%), VTB-6 (0,17%), MTS-3 (0,16%), Moskva62 (0.08%) , RZD-12 (0,07%), SibTlk-8 (0.05%), RZD-10 (0,04%), Moskva63 (0,03%), Moskva44 (0.02%). Decreased following quotation securities - RusStand-8 (-0.04%), System-2 (-0.12%), Moskva61 (-0.12%), Gazprom Neft-4 (-0,15%), MTS-4 (-0.38%), Mechel-4 (-0.87%).

level of liquidity continues to reco1000ver as a result of the completion of tax payments. The amount of funds on deposits and correspondent accounts on Tuesday morning rose to 83 billion rubles. and amounted to 954.5 billion rubles. Odds Mosprime as follows: O /N - 3,94%, 1M - 5,46%, 3M - 6,01%. NDF curve as comfortable for carry-trade: 1M - 5,05%, 3M - 5,3%, 1Y - 5,84%. As a result of the second half of the trading day the dollar "fell" on 0,62% to 30.143 rubles., Euro 0.12% to 42.009 rubles. Course currency basket in the ruble on Tuesday fell 0.52% and amounted to 35.486 rubles.

Market US Treasuries and Eurobonds:

Tuesday, before the start of trading in the U.S., we note once again the sales curve US Treasuries, which continues to witness an increase in optimism among investors: UST-2 - 0.851% per annum (-1b.p.), UST-10 - 3,652 % pa (-0.2 bp), UST-30 - 4.569% per annum (0.5 bp). Key event on Tuesday will address PA Volcker to reform the U.S. banking system. In the case of "softening" of the original plan, encouraging investors can get a new impetus. In the segment of Russian Eurobonds visible inactive sales amid falling interest from investors - Rus-30 decreased by 0.23% to 112.22% of par, the yield of the issue is 5.463% per annum (4b.p.). Spread between Rus-30 - UST-10 increased by 2 bp and is 181 bp

Power consumption in a number of power systems of Russia in January exceeded the historical maximum
Index of the Frankfurt Stock Exchange Xetra DAX rose 0.52%, the index of the London Stock Exchange FTSE 100 rose to 0,21ca3%
On the interbank market the dollar has risen in price
Bank of New York Mellon will acquire finkompaniyu Global Investment Servicing for U.S. $ 2.31 billion
Government of Ukraine proposes to label a product containing GMOs
Chernovetsky plans subordinate directly KSCA "ZhEKi subordinate irresponsible heads of districts"
Spyker Cars Saab intends to return to profitability by 2012
In the short term the stock market, "tired" to win back their investment concerns, will demonstrate the recovery position
As a result of trading the MICEX index rose by 1,3%, ending the day at 1435.5 points