ICU - Weekly Insight -- MoF will not offer 5-year notes again this year

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ICU

Taras Kotovych

Weekly Insight -- MoF will not offer 5-year notes again this year

At the end of September, the MoF sold more than UAH12bn of five-year notes. Since, it has revised the auction schedule for 4Q19 to include only bills with maturities of up to three years. So, demand and borrowings fell, and will be low for the following weeks.

08/10/2019 7 EN

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ICU

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Taras Kotovych

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Taras Kotovych

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Taras Kotovych

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The Ministry of Finance decreased interest rates for two out of three offered UAH bonds yesterday, coming closer to a decrease in three-month NBU CDs interest rates. Yesterday's auction provided the state budget with UAH7.2bn proceeds, including UAH5.4bn in local currency and EUR42.9m. UAH proceeds were lower due to a smaller cap for 12-month bills and lower demand for three-year notes. However, this did not prevent the Ministry from continuing to lower rates for some instruments. Four weeks after the NBU cut its interest rates, interest rates for 12-month bills fell by 70bp, for two-year pap...

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Weekly Insight -- MoF will not offer 5-year notes again this year

Bond Market Insight -- Bond rate reduction on hold

Weekly Insight -- Inflation falls sharply in March

Bond Market Insight -- UAH bond rates decline further

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