Bonds Fail to Provide Refuge

The weekly government bond auctions held by the Central Bank of Iran again failed to attract buyers this week.
One credit institution was the sole buyer in the fifth round, according to a press release published on the CBI’s website.
The unnamed institution bought bonds worth 2 trillion rials ($8.5 million), accounting for less than 1% of total offer.
Investors in fixed income assets also stayed away despite the fact that the Economy Ministry raised the yield to 21.29% compared to the 20.82% in the second round.