Bonds: Primary auction results

Обзор облигаций 17.09.2014 After several failed auctions of similar bonds since January of this year, the MoF yesterday sold US$8.0m in 2-year USD-denominated bonds at 8.10% to only one bidder. Investment implications: Proceeds from yesterday's auction are insufficient amidst the paltry demand for FX-denominated bonds offered after because of the local currency devaluation. No trend is apparent.