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 Kazkommerts Securities

Kazakhstan Weekly News
Fixed Income

October 5, 1998

Latest Kazakhstan Weekly News

Primary Auctions

The latest auction of 6-month T-bills held on September 28 didn’t differ much from the previous four auctions as most of the parameters remained unchanged. The Ministry of Finance, therefore, managed to set up a sort of price corridor for 'the six' which did seem to work. This time, the sales volume decreased slightly to KZT 461.8m (USD 5.8m) from KZT 473.8m (USD 5.94m) at the previous auction. Non-residents have not filed bids for these papers since July 27, 1998.

Latest issues of 6-month T-bills

83

25.03.99

91.11

19.51

 

 

84

01.04.99

91.11

19.51

 

 

Compound Yields vs. Volumes at Primary Auctions of 6-month T-bills

The results of the latest auction of 3-month T-bills (held on September 29) show a dramatic slash in demand with the demand parameters getting tougher. Traders seem reluctant to invest in these papers despite the fact that the market situation remains practically unchanged along with the Tenge devaluation rate. The traded volume fell to KZT 140.6m (USD 1.8m) from KZT 520 (USD 6.5m) at the previous auction.

Latest issues of 3-month T-bills

203

24.12.98

95.24

19.99

204

24.12.98

95.27

19.86

Compound Yields vs. Volumes at Primary Auctions of 3-month T-bills

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