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ICU Research
is a small but highly professional team of experts who have deep insight in diverse fields of finance — from global markets to Ukrainian macroeconomics and from the local banking sector to sovereign debt market.
Bond Market Reviews
Weekly Reviews
Macroeconomics
Bond Market Reviews
Market calm with new NBU key rate
At yesterday's auction, UAH government bond yields did not show any significant changes, suggesting...
5 August 2026
New, even longer bonds
Yesterday, the Ministry of Finance placed the usual military bills with maturities of one year and a...
29 July 2026
Primary bond market focuses on longer maturities
Yesterday, the vast majority of demand was for longer instruments, while demand for one-year governm...
22 July 2026
Weekly Reviews
NBU resumes tightening
The regulator raised the key policy rate by 50 bps to 15.5%, citing sustained fundamental price pres...
3 August 2026
IMF updates macro forecast for Ukraine
The IMF board approved the first review of Ukraine’s 48-month EFF program, which unlocked the second...
27 July 2026
NBU continues to calm FX market
Last week, the National Bank was again forced to hike interventions to over US$1bn to prevent the ex...
20 July 2026
Macroeconomics
Macro risks up; more foreign financial aid unlocked
The Ukrainian economy showed unparalleled resilience to massive electricity blackouts at the start o...
5 June 2026
Growth Weak but Macroeconomic Stability Safeguarded
The economy is set to slow further as headwinds remain intense. The energy crisis caused by russia’s...
6 February 2026
Reparation Loan is a Likely Game Changer for Economy
The lingering war and heightened safety risks imply Ukraine will remain critically dependent on fore...
15 October 2025
Video
Media publications
Economy
8 December 2025
Company News
3 April 2025
Economy
13 December 2024
Economy
27 February 2023
Investments
21 February 2023
Investments
20 February 2023
Venture Capital
15 December 2022
Investments
18 November 2022
Economy
6 September 2022