27 January 2014 Bonds

Bond Market Insight

Weekly review: Markets under political pressure

Last week, market conditions were under pressure from political instability and crisis escalation. Risks of a new wave of financial problems increased interest rates on Eurobonds and at the domesti...

ICUDebtInsight-20140127.pdf  (1.3mb)

24 January 2014 Bonds

Bond Market Insight

Government bond auction results: Unscheduled auction raises significant funds

The MoF held an unscheduled auction of four bonds yesterday, including 3-month, 4-month and 9-month zero-coupon bonds and a 5-year coupon bearing bond, all denominated in local currency. Of t...

ICUDebtInsight-20140124.pdf  (345kb)

23 January 2014 Bonds

Bond Market Insight

Результаты аукциона по продаже ОВГЗ: внеплановое финансирование

Сегодня Минфин решил внести изменения в график и провести внеплановый аукцион. В этот раз было решено предложить рынку четыре инструмента, три из которых с погашением в этом году. Рынку предлагались 3...

ICUDebtInsight-20140123-Rus.pdf  (451.7kb)

22 January 2014 Bonds

Bond Market Insight

Government bond auction results: Redemption refinanced but risks increase further

Despite significant support of banking sector liquidity from the NBU, which purchased UAH2.5bn of government bonds from the banks’ portfolio this Monday, providing a significant increase in banks’ cor...

ICUDebtInsight-20140122.pdf  (346.2kb)

21 January 2014 Bonds

Bond Market Insight

Sovereign debt: Challenges postponed for a while

The high yields of Ukrainian sovereign debt reflect Ukraine’s macroeconomic conditions, where the deficit issue has been swelling growing concern for years. Although this debt offers comparatively hig...

ICUDebtInsight-20140121.pdf  (898.2kb)

21 January 2014 Bonds

Bond Market Insight

Результаты аукциона по продаже ОВГЗ: выплаты рефинансированы, но риски растут

Несмотря на существенную поддержку ликвидности со стороны Национального банка, который выкупил в понедельник 2.50 млрд гривень ОВГЗ, подтолкнув остатки на корреспондентских счетах банков к существенно...

ICUDebtInsight-20140121-Rus.pdf  (451.5kb)

20 January 2014 Bonds

Bond Market Insight

Weekly review: New borrowings and conditions

Although conditions have changed little since the end of last year, the new financing from Russia has helped push Ukrainian Eurobond spreads to tighten and yields to decline. Although the domestic ...

ICUDebtInsight-20140120.pdf  (1.3mb)

15 January 2014 Bonds

Bond Market Insight

Government bond auction results: MoF unwilling to pay higher interest rates

The debut primary auction of 2014 was characterized by partial market demand. Under the impact of high banking sector liquidity, investors decided to focus on short-term primary market bonds, of which...

ICUDebtInsight-20140115.pdf  (340.9kb)