Liquidity declines slightly

Обзор облигаций 31.03.2016 Following two days of a slight recovery, banking sector liquidity declined UAH0.19bn to UAH101.00bn yesterday as banks' correspondent accounts with the NBU fell UAH0.15bn to UAH40.10bn and total CDs outstanding slid UAH0.04bn to UAH60.90bn. Investment implications: Liquidity slid a mere UAH0.19bn yesterday after Tuesday's outflows in FX and tax payments. There was a possible reallocation to 30-days CDs while banks' correspondent accounts with the NBU fell slightly more. Higher budget expenditures could have slightly offset outflows.