Hazine dün 7.1 milyar TL tutarında 4 yıllık TLREF dayanıklı ve 5 yıllık Hazine Tahvil ihracı gerçekleştirdi. 5 yıllık tahvil ihracında, 2.7 milyar TL’lik talebe karşılık 1.8 milyar TL’lik ihraç gerçekleşti. İhalede ortalama bileşik faiz ise %12.98 oldu. Hazine Ekim’de 43.7 milyar TL’lik itfaya karşılık 20 milyar TL borçlanmayı planlıyor.
Treasury Issuance
Treasury issued TRY7.1bn worth government bonds (4-year TLREF-based bond and 5 year GB) yesterday. In the issue of 5-year GB, TRY1.8bn was sold vs. a bid of TRY2.7bn. The average compounded interest rate came out to be 12.98%. For the month of October, Treasury plans to borrow TRY20bn vs. a redemption of TRY43.7 in the domestic market. Thanks to CBRT’s monetary tightening since August, the yield curve has become a lot flatter following steepening in the Spring and Summer. In fact, currently, the O/N repo is fluctuating in 12-13% range. We believe a flat yield curve contributes towards financial stability goals of the Central Bank.
