Liquidity up slightly

Обзор облигаций 20.04.2016 Banking sector liquidity rose for the second consecutive day yesterday, up UAH0.70bn to UAH102.15bn, as banks' correspondent accounts with the NBU increased UAH0.27bn to UAH41.19bn and total CDs outstanding rose UAH0.43bn to UAH60.96bn. Investment implications: Liquidity continued to recover prior to month-end tax payments, supported by the NBU's FX auctions and small ON loans for banks. Today, we should see an increase in liquidity with a possible decline at the end of the week due to bond purchases at the primary auctions and tax payments.