Debt Market Outlook Bleak

Government bonds were bought this week again by institutional investors as banks and credit institutions kept their distance.
Bond auctions are held by the Central Bank of Iran on behalf of the Economy Ministry to raise funds for the government’s deficit spending. 
A report seen on the Economy Ministry's news website said debt barely worth 5.5 trillion rials ($11.4 million) were bought on Wednesday.
Banks and credit institutions did not show up at the 42nd auction. The shortest maturity date for the new debt was May 2023 at 25.7%.