Iran: Bond Demand Fades

Data from recent weekly bond auctions show increasing aversion of investors to buy bonds offered by the government, apparently due to the low returns compared to parallel markets. 
Struggling to raise money to shore up its deleting finances, the government launched a series of auctions in May to sell Islamic bonds to banks, investment companies and investors.
On Tuesday it managed to sell only 3.3 trillion rials ($11 million) in bonds out of a total of 67 trillion rials ($220 million) on offer.
A bank was the sole buyer and bought 1.9 trillion rials. The remaining was bought by retail and institutional investors in the  stock market outside the auction process.  
In the last week’s auction there were no bids by banks and non-bank financial institutions both at the interbank platform and the stock market.