Regional sovereign Eurobond market: UZBEK 24 was the best performer in Oct-23, with yield decreasing 97.5bps. Meanwhile, KAZAKH 25 and GEORGIA 26 were the worst performers of the month, with the yields widening by 52.7bps and 36.1bps, respectively.
Georgian corporate Eurobond market: TBC perp was the best performer in Oct-23, with yield decreasing 2.3bps. GRAIL 28 was the worst performer of the month, with the yield widening by 47.8bps.
FX market: During Oct-23, Russian ruble (RUB), Kazakh tenge (KZT) and Ukrainian hryvnia (UAH) strengthened against US Dollar by 4.3% m/m, 1.8% m/m and 1.7% m/m, respectively, while Turkish lira (TRY) and Armenian dram (AMD) lost 3.2% m/m and 1.5% m/m, respectively.
Georgia money market: In Oct-23, GEL 174.9mn treasury notes and GEL 40mn treasury bills were sold. Interest rates increased on all instruments m/m (except 6-month and 1-year T-bills). Weighted average interest rate on 10-year notes was 8.464%, 5-year notes was 8.329%, on 2-year notes was 8.375%, on 1-year instrument was 9.275%, and it came in at 9.460% for 6-month instruments. Notably, non-residents’ treasury holdings decreased by 33.5% m/m to GEL 236.3mn and the share of non-residents in total outstanding holdings came in at 3.0% (-1.6ppts m/m) in Oct-23.
