In violation of float traditions // The Ministry of Finance refused to place OFZ with a floating rate
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The Ministry of Finance again adjusted the tactics of borrowing in the debt market. At the previous auction, the ministry focused on floating-coupon bonds, which were in high demand, but now it has returned to placing papers with a fixed coupon and floating par value. Nevertheless, the total volume of placement was significant, amounting to almost 85 billion rubles. If such investor activity continues in the coming months, we should not expect the Ministry of Finance to return to the practice of placing floaters, analysts say.
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