Regional Fixed Income Market Watch, February 2024

Regional sovereign Eurobond market: TURKEY 26 was the best performer in Feb-24, with yield decreasing 16.8bps.

Georgian corporate Eurobond market: Silknet 27 was the best performer in Feb-24, with yield decreasing 21.4bps. 

Georgia money market: In Feb-24, GEL 309.7mn treasury notes and GEL 40mn treasury bills were sold. Interest rates decreased further on all instruments m/m. The weighted average interest rate on 10-year notes was 8.331%, 5-year notes was 8.283%, on 2-year notes was 8.210%, on 1-year instrument was 8.279%, and it came in at 8.345% for 6-month instruments. Notably, non-residents’ treasury holdings remained unchanged at GEL 234.0mn and the share of non-residents in total outstanding holdings stood at 2.8% (-0.1ppts m/m) in Feb-24.