ICU - Bond Market Insight -- Short-term financing prevails

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ICU

Research Team

Bond Market Insight -- Short-term financing prevails

Yesterday, the Ministry of Finance raised UAH12.7bn (US$470m) for the budget, mainly in local currency. Interest rates were raised minimally, and the MoF accepted all the demand, which was surprisingly unanimous. But almost 80% of the borrowings came through semi-annual bills.

01/12/2021 5 EN

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ICU

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Analysts

Research Team

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.

May 1, 2024 May 1, 2024 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

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Bond Market Insight -- Short-term financing prevails

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

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