The Ministry of Finance was unable to place two issues of public debt for 30 billion rubles

The Ministry of Finance was unable to place two issues of public debt for 30 billion rubles



The second auction after the start of the special operation to place federal loan bonds (OFZ) did not take place. The Ministry of Finance planned to borrow 30 billion rubles by placing two issues of government bonds at once - for 20 billion rubles. due in March 2029 and 10 billion rubles. maturing in July 2036. The department declared both auctions invalid due to the lack of applications “at acceptable price levels”, follows from the message of the Ministry of Finance.

At 12.00 Moscow time, the cost of seven-year OFZs in the process of collecting applications was at the level of 86.23% of the face value (yield - 9.85%) - below the close of Tuesday (86.7% of the face value), says Elizabeth Naumov. But at 14.00, at the time of the introduction of the cut-off price, the cost of government securities rose to 86.57% of the face value (9.75% yield), she continues. Short-term OFZ yields have risen more than 60 bp since Friday. p., medium-term - over 90 b.p. p., long-term - over 100 bp. etc., says credit analyst at Tinkoff Investments Mikhail Ivanov. Against this background, the yields proposed by the Ministry of Finance were not in demand, since they did not reflect current market conditions, he concludes.



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