ICU - Bond Market Insight -- Large demand with low participation

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ICU

Taras Kotovych

Bond Market Insight -- Large demand with low participation

â€‹Although demand yesterday rose nearly twofold from last week's auction, the number of bids fell significantly. Although the MoF received only two bids, down from eight last week, it borrowed a large amount of funds and decreased their cost.

05/04/2017 3 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/

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Analysts

Taras Kotovych

Other Reports from ICU

Vitaliy Vavryshchuk

Vitaliy Vavryshchuk

Macro Update -- Macro Risks Remain Manageable

The resilience of Ukraine’s economy to unprecedented external shocks remains beyond any doubt. The economy continues to grow in 2024 at a reasonable pace and massive destruction of the country’s energy infrastructure will only slow, but not disrupt, the recovery. Ukraine’s largest economic achievement of the past quarters is the launch of a fully functioning Black Sea cargo corridor that made it possible to export a wide range of commodities. The biggest positive surprise of 1Q24 was a sharp slowdown of inflation that reached 3.2% in March. Low CPI combined with a stable FX market implies sign...

April 23, 2024 April 23, 2024 9 EN

Taras Kotovych

Taras Kotovych

Weekly Insight -- NBU does not prevent hryvnia weakening

Last week, hryvnia continued to weaken even though NBU FX interventions were the largest since the beginning of January.The NBU sold US$695m from international reserves last week, the largest volume of interventions in more than three months (a larger amount, US$790m, was last sold in the first week of the year). We estimate the largest volume, approximately US$215m (nearly a third of the weekly volume), was sold last Friday.

April 22, 2024 April 22, 2024 7 EN

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.

April 17, 2024 April 17, 2024 4 EN

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Bond Market Insight -- Large demand with low participation

Macro Update -- Macro Risks Remain Manageable

Weekly Insight -- NBU does not prevent hryvnia weakening

Bond Market Insight -- Bond rate reduction on hold

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