25 February 2015
Market Reviews
Daily Insight
UAH extends freefall
As the run on currency continued for the second day, the hryvnia hit an intraday low of 35/USD. The low volume confirmed unsatisfied demand for foreign currency. In our view, it is massively oversold. ...
ICUDailyInsight-20150225.pdf (759.2kb)
25 February 2015
Market Reviews
Bond Market Insight
Insufficient financing
Yesterday’s primary auction attracted little demand and no NBU support. The MoF received and accepted, despite the paltry size, the sole bid for UAH18.79m (par value) at 16.70% for the 2-year local cu ...
ICUDebtInsight-20150225.pdf (332.6kb)
24 February 2015
Market Reviews
Daily Insight
Hryvnia at new distressed low
The hyvnia abruptly dropped 10% at the FX market open yesterday, hitting a midday low of 31/USD, before the NBU announced new administrative measures to stop the freefall. Measures include banning bus ...
ICUDailyInsight-20150224.pdf (777.5kb)
24 February 2015
Market Reviews
Bond Market Insight
Незначительное финансирование
Сегодняшний аукцион, скорее всего, прошел без поддержки в виде отечественного QE со стороны Национального банка, поскольку спрос составил незначительные объёмы в сравнении с текущими выплатами и вероя ...
ICUDebtInsight-20150224-Rus.pdf (446.9kb)
23 February 2015
Market Reviews
Daily Insight
Minsk agreement in shambles
After a ceasefire agreement that did not survive a couple of days, a threat of terrorism across Ukraine has emerged. At midday on Sunday, three people were killed and up to ten were hospitalized after ...
ICUDailyInsight-20150223.pdf (774kb)
20 February 2015
Market Reviews
Daily Insight
UAH under pressure as Minsk 2 is disregarded
Political risk escalated in the wake of the second failed Minsk ceasefire agreement after pro-Russian militants forced Ukraine's army to retreat from the Debaltseve rail hub. This violation of Minsk 2 ...
ICUDailyInsight-20150220.pdf (752.2kb)
19 February 2015
Market Reviews
Daily Insight
Monthly data point to extended contraction
January's data on several more key economic sectors showed industrial production down a significant ...
ICUDailyInsight-20150219.pdf (767.1kb)
19 February 2015
Market Reviews
Bond Market Insight
Additional financing in FX
Although on Tuesday the MoF refinanced all domestic FX debt repayments scheduled through the end of February, it held an unscheduled primary auction yesterday and sold an additional US$40.25m of USD-d ...
ICUDebtInsight-20150219.pdf (332.6kb)