Liquidity recovers slightly

Обзор облигаций 02.10.2015 Following month-end tax payments, liquidity recovered slightly, up UAH0.88bn to UAH78.13bn yesterday, as banks' correspondent accounts with the NBU rose a significant UAH5.47bn to UAH30.89bn while total CDs outstanding fell UAH4.59bn to UAH47.24bn. Investment implications: The dramatic decline in liquidity seen at the end of September to UAH77.25bn recovered slightly after a significant reallocation of liquidity from CDs to banks' accounts with the NBU. Following the recent volatility and hitting record highs, liquidity should recover slightly today and decline insignificantly next week due to the usual outflows, i.e. payments abroad.