The Ministry of Finance will be holding its next placement of Ukraine's domestic bonds (OVGZ) today (Thursday, January 28) and offer two bonds series with maturity dates July 28, 2010 and January 26, 2011.
Accoridng to the view of Astrum investment company, the extraordinary placement announcement is down to the government’s need to attract funds in the current month. At the same time, MinFin is attempting to attract funds without any increase in yields. At this current auction, the Ministry will be selling not so popular bond series – 6-month and 12-month OVGZs. It is hard to predict the yields level and the volume of the placement.
It is highly possible that that the government has reached an agreement with a number of banks. However, to Astrum’s opinion, market demand will be moderate due to the fact that major players are waiting for the February placements and the expected yield increase for 2-year and 3-year OVGZs.
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