ICU - Bond Market Insight -- Investors concentrate on short-term bonds

Report

ICU

Taras Kotovych

Bond Market Insight -- Investors concentrate on short-term bonds

The MoF borrowed almost UAH6.8bn (US$173m) yesterday with a decline in interest rates.

The greatest demand was for 12-month bills, which was almost twice oversubscribed. The range of interest rates in bids narrowed to 19bp: the lowest rate was 16.15% (up 3bp), and the highest rate declined by 11bp to 16.34%. Due to the cap, the MoF accepted bids with rates up to 16.25%, which was set as a cut-off rate or 10bp lower than last week. The weighted-average rate slid by 1bp to 16.23%.

03/04/2024 4 EN

Provider

ICU

ICU IS A FINANCIAL SERVICES GROUP PROVIDING SECURITIES TRADING, INVESTMENT BANKING AND ASSET MANAGEMENT FOR PRIVATE AND INSTITUTIONAL INVESTORS.

More information about ICU you can find at https://www.icu.ua/

See profile

Analysts

Taras Kotovych

Other Reports from ICU

Taras Kotovych

Taras Kotovych

Bond Market Insight -- Reduction of UAH bond rates resumes

The NBU's decision to cut its interest rates by 100bp caused increased competition at yesterday's primary auction and led to a decrease in bond interest rates by 55‒70bp.

15h / 21m 15h / 21m 5 EN

Taras Kotovych

Taras Kotovych

Weekly Insight -- NBU continues rate-cutting cycle

The central bank has implemented a 100bp reduction in the key interest rate, bringing it to 13.5%. This adjustment exceeded market expectations slightly, but was not entirely unpredictable.Concurrently, interest rates on certificates of deposit (CDs) were also lowered by 100bp to 13.5% for overnight instruments and 16.5% for three-month instruments. Additionally, the cost of refinancing loans has been reduced by 200bp to 17.5%.

April 29, 2024 April 29, 2024 7 EN

Taras Kotovych

Taras Kotovych

Bond Market Insight -- Bond market waits for NBU to cut rates

Yesterday's auction received UAH9.4bn of demand, mainly for 12-month bills, but also strong demand for two- and three-year securities. Proceeds for the state budget amounted to almost UAH7.6bn. The MoF decreased interest rates for 12-month paper only.

April 24, 2024 April 24, 2024 4 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

Bond Market Insight -- Investors concentrate on short-term bonds

Bond Market Insight -- Reduction of UAH bond rates resumes

Weekly Insight -- NBU continues rate-cutting cycle

Bond Market Insight -- Bond market waits for NBU to cut rates

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe