Cyprus financing needs covered until first half of 2019

Available cash of Cyprus government covers the financing needs of the Republic up to the first half of 2019, according to a newsletter by the Ministry of Finance on economic developments in Cyprus.

The newsletter also notes that the Cyprus Government international bonds have recently experienced a volatility episode, with yields in the most liquid bonds (2022s, 2023s, 2024s, 2025s) moving upwards abruptly on 13th April by about 60-95 bps.

Since then, it is added, the yield direction reversed covering most of the increase, still trading higher than prior to the episode.

The yield at the monthly 13-week Treasury Bill auctions continue to be negative. The latest auction of April recorded a record low yield of -0.25% and a bid-to-cover ratio of 2.8.

Source: Cyprus News Agency