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| Kazakhstan Weekly News Fixed Income May 10, 1999 |
Primary Auctions The average on Dollar-denominated 6-month T-bills at an auction on 3 May stood at 7.58%. The announced volume of the issue was USD 2m. The table below summarises the results of the two latest auctions. A sharp decline in the demand is explained by the fact that pension funds, which are major investors in these securities, traditionally lower their activity at the end and at the beginning of each month due to their cash flows schedules. Latest issues of 6-month T-bills
The average yield on Dollar-denominated 3-month T-bills did not change from the previous 7.37% at an auction on 4 May. However, unlike the auction of 6-month papers, the Finance Ministry managed to raise USD 0.8m more than it had planned. The result of the week ending 7 May is as follows: the Finance Ministry raised USD 5.2m (KZT 592.9m) with a planned volume of USD 5.0m, and it repaid KZT 1,035.2m. Altogether, the Finance Ministry conducted six T-bills auctions in April whereby it borrowed a total of USD 17.023m (KZT 1,941.5m). The actual repaid volume was KZT 2,907.3m. (IRBIS) Latest issues of 3-month T-bills
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