Russian Financial Markets in May 2015

Abstract

The dynamics of the MICEX Index saw no drastic movements last month, averaging 1650 index points, with a 1.2% fall at month’s end. The rest of the MICEX Sector Indices, except the MICEX Telecommunications Index, demonstrated negative dynamics too. The MICEX daily average turnover kept shrinking and amounted to Rb 30.4bn. The situation in the Russian domestic corporate bond market in June was relatively normalized. The key market indicators such as the market volume and the corporate bond market index saw moderately positive dynamics; investors’ activity remained high in the primary and secondary markets (particularly in the financial segment). Growth in the weighted average yield rate of bond issuances was an adverse trend. The problem with the failure to meet obligations to bondholders is still there.

Keywords: Russian economy, financial markets

JEL Classification: G1, G3, G15