ICU - Weekly Insight -- Short-term financing shrinks

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ICU

Research Team ...

Taras Kotovych

Weekly Insight -- Short-term financing shrinks

Due to capped offerings of short-term bills, the share of short-term financing in total borrowings declined YTD to 61% from 97%. With today's issue of five-year notes, the share of short-term financing will decline further.

27/08/2019 1 EN

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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

Research Team

Taras Kotovych

Other Reports from ICU

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

Vitaliy Vavryshchuk

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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

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Weekly Insight -- Short-term financing shrinks

Bond Market Insight -- Bond market waits for NBU to cut rates

Macro Update -- Macro Risks Remain Manageable

Weekly Insight -- NBU does not prevent hryvnia weakening

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