ICU - Bond Market Insight -- Decline in rates halted

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ICU

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Taras Kotovych

Bond Market Insight -- Decline in rates halted

Yesterday, the Ministry of Finance accepted most demand, and received UAH1.07bn (US$42m) of proceeds. This time, the cut-off and weighted-average rates were largely unchanged.

21/08/2019 1 EN

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ICU

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Analysts

Research Team

Taras Kotovych

Other Reports from ICU

Taras Kotovych

Taras Kotovych

Bond Market Insight -- Bond rate reduction on hold

Yesterday, demand at the primary auction did not allow the Ministry of Finance to continue lowering rates or to sell planned volumes of bonds.

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Ukraine’s annual inflation slowed further to 3.2% in March from 4.3% in February, which came as a major surprise.A significant deceleration in consumer prices was largely due to a decline in food prices, which is highly unusual for this time of the year. Prices for food staples declined by 0.2% MoM implying an only marginal growth of 0.2% in YoY terms. A number of significant food basket components were significantly cheaper in YoY terms, namely eggs (-34.3% YoY), sunflower oil (-17.4%), sugar (-13.3%), fruits (-12.2%), and several other items. Price growth also remains weak (or even negative)...

April 15, 2024 April 15, 2024 8 EN

Taras Kotovych

Taras Kotovych

Bond Market Insight -- UAH bond rates decline further

The Ministry of Finance decreased interest rates for two out of three offered UAH bonds yesterday, coming closer to a decrease in three-month NBU CDs interest rates. Yesterday's auction provided the state budget with UAH7.2bn proceeds, including UAH5.4bn in local currency and EUR42.9m. UAH proceeds were lower due to a smaller cap for 12-month bills and lower demand for three-year notes. However, this did not prevent the Ministry from continuing to lower rates for some instruments. Four weeks after the NBU cut its interest rates, interest rates for 12-month bills fell by 70bp, for two-year pap...

April 10, 2024 April 10, 2024 4 EN

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Bond Market Insight -- Decline in rates halted

Bond Market Insight -- Bond rate reduction on hold

Weekly Insight -- Inflation falls sharply in March

Bond Market Insight -- UAH bond rates decline further

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