Bond Market Insight -- Demand for bill has run out
The regular auction showed that active demand observed in early October is now virtually exhausted. Raising rates at the beginning of the month had only a short-term effect. After attracting more than US$400m in two weeks, only a tenth of this amount was received yesterday. Another dramatic difference was raising funds in the national currency. After raising UAH2.4bn of proceeds for two weeks, this time only UAH7.1m was raised for the budget.
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