Investors Give Bonds the Cold Shoulder

The government’s bond offer got another cold shoulder this week as the main buyers (banks and institutional investors in the stock market) stayed away.
Debt worth 7.83 trillion rials ($23.8 million) was sold in the 23rd auction held by the Central Bank of Iran on Tuesday. 
Auctions are held by CBI on behalf of the Economy Ministry to raise funds for the government’s budget deficits.