Liquidity down slightly

Обзор облигаций 16.07.2015 The broader liquidity indicator declined UAH1.14bn to UAH70.90bn yesterday as banks' correspondent accounts with the NBU fell UAH0.84bn to UAH22.71bn and total CDs outstanding slid UAH0.30bn to UAH41.75bn. Total local currency debt repayments scheduled for the next 30 days remained steady at UAH6.44bn. Despite the decline in liquidity, KyivPrime interest rates fell once more: the ON interest rate fell 180bp to 19.70% and the 1M interest rate slid 50bp to 25.00%. Siginificant liquidity, mostly invested in short-term CDs, most likely exerted pressure on money market rates to decrease. The results of yesterday's tender on 30-day and 89-day CDs should be published today and indicate the banks' view of anticipated liquidity over the next three months.