KIAN DEBT MARKET OBSERVER

Average YTMs of debt securities dropped approximately 1% in line with the new directive issued by CBI for implementing the rate cuts.

New Islamic Treasury Bills (Sakhab) with 6 maturities and total value of IRR 120 tr (USD 3100 mn)* were listed on Iran Farabourse. Although Sakhab1 is maturing in two weeks, it is not listed on Farabourse and will be settled by Melli bank.

Trades of Islamic Treasury Bills (TB09) halted in order to be settled by the government on maturity next week. Therefore, TB10 and TB11 are the only treasury bills being traded at the market with total value of IRR 30 tr (USD 773 mn) before Sakhab secondary trades starts.

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