Bond Market Insight -- Rates remain stable
Compared with last week's auction dominated by 3-month bond rates, this week's auction had low demand of just UAH1.42bn (par value), of which the MoF satisfied 86% to receive UAH1.18bn of budget proceeds. It appears that non-resident participation was smaller than before and there was lower competition between bidders. While last week's 3-month and 6-month bond rates were at 15.89%, yesterday the lowest rate for the 3-month bond was 16.00% and the for 6-month, 16.23%.
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