ICU: Bond Market Insight -- Yields down significantly
​At yesterday's auction, the MoF accepted to vet 85% of demand, receiving UAH2.91bn of budget proceeds today. At the same time, the MoF decreased cut-off rates, especially for short-term borrowings.
The largest demand was submitted for 2-year bonds, nearly UAH3.0bn in 28 bids at interest rates between 14.74% and 15.30%. The MoF decided to reject only UAH0.46bn of demand with interest rates above UAH15.19%. It accepted non-competitive bids at a 15.09% weighted average interest rate, 31bp lower than two weeks ago
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