Weekly market overview

Sale of domestic government bonds, international reserves of the National Bank of Ukraine, and decline in US stock indexes: a weekly market overview

In March, international reserves reached USD 31.9 billion, the highest value since 2011, with increased activity in short-term 1 and 1.2 years military domestic government #bonds. Meanwhile, #global #stock indexes experienced a decline during the week due to mostly weaker economic data from the United States.

• Domestic government bonds auctions. The budget received UAH 4.6 billion from the domestic government bonds auctions offering three series in hryvnia. There was also increased activity in short-term military domestic government bonds with a one-year and 1.2-year maturity.
• Regulator's news. According to the National Bank of Ukraine, international reserves reached USD 31.9 billion in March. The growth of reserves was facilitated by increased inflows of external financial assistance, along with a reduction in the regulator's currency sales interventions and positive revaluation of reserve components. In addition, net payments on the state debt in March amounted to USD 0.6 billion.

Last week, the NBU approved the announced changes to the operational design of the monetary policy. In particular, three-month deposit certificates were introduced with interest rates tied to the discount rate. The volume of investments in them depends on the indicators of attracting hryvnia deposits from the population for more than three months.

• Global markets. US stock indexes experienced a decline during the week due to mainly weaker economic data from the United States. The non-energy sector also faced additional pressure from the prospects of announced oil output cuts by OPEC+ countries.

#Ukraine #financial #Ukreximbank