Gov’t attracts UAH 1.7 bln in local debt, yields stay low

Yesterday, at a scheduled UAH debt auction, the Finance Ministry attracted UAH 1.7 bln, down 11% from the last week. Mykyta Mykhaylychenko: Yields, in aggregate, stayed at low levels and the government, having a sufficient cash position, is apparently trying to use favorable market conditions. 3M bonds were placed at average 5.37% yield (down from 5.5% two weeks ago), while the 6M average yield went up marginally to 6.75% vs. 6.66% a week before. 3Y papers, in turn, were placed at an average YTM of 10.97% for a reasonably large volume of UAH 515 mln.