Bonds: Primary auction cancelled

Bonds: Primary auction cancelled



22 жовтня 2014 года
ICU

After a slight change to its scheduled offerings at yesterday's auction, the MoF received no bids for the 12-month bond (that sold two weeks ago), the 10-year bonds (that sold three times earlier this month) and the rarely offered 2-year USD-denominated bond.

Investment implications: As recent auctions were supported by domestic QE, yesterday's auction was expected to be supported similar to that held last Tuesday. However, the MoF likely decided to use available funds for today's debt repayments ahead of anticipated tax payments or new borrowings. As a result, we could see an additional auction later this week.

Источник: ICU

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