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Research 

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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

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MoF issues new reserve bond

The Ministry of Finance raised almost UAH16bn for the state budget yesterday by issuing a new reserv...

16 July 2025
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Investors focuses on longer bonds

Among UAH bonds, investors preferred the longest offered bonds due in November 2028. However, the mo...

9 July 2025
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3.5-year note received unusual interest

Yesterday, for the second time, the MoF borrowed UAH7bn. In contrast to previous auctions, most of t...

2 July 2025
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Weekly Reviews

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MoF issues new three-year note

Yesterday, the MoF replaced three-year bonds due in November 2028 with a new three-year bond due in...

23 July 2025
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Мінфін розмістив нові трирічні ОВДП

Міністерство фінансів учора здійснило заміну трирічних паперів, запропонувавши нові, трошки коротші...

23 July 2025
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NBU fully offsets spike in FX demand

Demand for foreign currency rose sharply last week, prompting the NBU to increase interventions to a...

21 July 2025
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Macroeconomics

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A Race to Secure More Budget Funding for 2026

Economic growth to remain slow as the economy will struggle to increase the stock of available resou...

16 July 2025
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Larger Financial Aid Buys More Time for Economy to Adjust

Ukraine’s economy has been in a sluggish recovery mode since 3Q24, and chances for a significant nea...

17 April 2025
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2025: Year of Challenges and Great Hopes

The year 2025 will be one of great expectations along with hope for a sustained ceasefire agreement...

13 December 2024
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