16 March 2015 Market Reviews

Daily Insight

Restructuring details announced

Last Friday, the MoF presented the new EFF program from the IMF via a webinar and provided some guidance about the current debt restructuring under negotiation. According to the MoF, the government an ...

ICUDailyInsight-20150316.pdf  (803.6kb)

13 March 2015 Market Reviews

Daily Insight

Liquidity slightly increases

Broader banking sector liquidity slightly rose UAH0.82bn to UAH60.05bn yesterday as the NBU’s absorption of extra liquidity caused total CDs outstanding to increase UAH1.14bn to UAH18.62bn. Meanwhile, ...

ICUDailyInsight-20150313.pdf  (728.4kb)

12 March 2015 Market Reviews

Daily Insight

IMF approves US$17bn 4-year program

The IMF approved the new four-year US$17bn financial assistance program yesterday. Donors are expected to contribute alongside private lenders involved in the Eurobond debt restructuring. With restruc ...

ICUDailyInsight-20150312.pdf  (770.6kb)

11 March 2015 Market Reviews

Daily Insight

UAH strengthens ahead of IMF meeting

Yesterday, Ukraine's eurobonds rallied in anticipation of the IMF decision to issue US$4-5bn in EFF funds by the end of this week. The hryvnia strengthened from about 25-27/USD last week toward ___/US ...

ICUDailyInsight-20150311.pdf  (783.4kb)

11 March 2015 Market Reviews

Bond Market Insight

Auction of 2-year bonds fails

Yesterday’s auction failed yet again as the MoF offered 2-year local currency bonds for the second consecutive week. Consequently, the MoF will have to use budget revenues to fulfil domestic debt repa ...

ICUDebtInsight-20150311.pdf  (333.2kb)

10 March 2015 Market Reviews

Daily Insight

UAH weakened by accelerated inflation

Inflation in February accelerated more rapidly following last month’s extreme devaluation. Headline CPI was up 5.3% from the previous month and 34.5% year-on-year. The run on currency was the key driv ...

ICUDailyInsight-20150310.pdf  (687.2kb)

10 March 2015 Market Reviews

Bond Market Insight

Спрос снова отсутствовал

Вторую неделю подряд Минфин предлагает 2-летние гривневые ОВГЗ, которые не привлекают даже минимальный спрос, и аукционы приходится отменять. Как результат, Минфину необходимо использовать налоговые п ...

ICUDebtInsight-20150310-Rus.pdf  (513.8kb)

6 March 2015 Market Reviews

Daily Insight

Liquidity reallocation and increase

Wednesday’s cash flows caused a reallocation of funds between indicators that caused them to rise insufficiently. Banks’ correspondent accounts with the NBU fell UAH4.62bn to UAH26.18bn yesterday whil ...

ICUDailyInsight-20150306.pdf  (774.9kb)