Money market
CBA note yield: approaching the spring level amid increased volume
The yield on 28-day CBA notes at the 14.10.2026 auction was 6.44% — close to the start of the series but above it, although within the period it passed through both a peak and a minimum.
CBA Notes: Absorption Increased, but Short-Term Money Did Not Get More Expensive
The outstanding balance of CBA notes in circulation rose from 525.5 million manats in July to 1733 million in October, while note yields and the AZIR rate remained below previous highs.
CBA Note Yields: The Price of Liquidity Versus the Volume of Sterilization
The yield on 28-day CBA notes fell to 6.47% at the auction on 07.10.2026, while the volume of notes in circulation rose to 1733 million manats — the two series are moving in opposite directions.
CBA notes: rising absorption with a more expensive instrument
The outstanding balance of CBA notes in circulation rose from 503.8 million manats in July to 1758 million as of 01.10.2026, while the yield on 28-day notes returned to 6.5% — the volume of absorption and its price are moving in the same direction.
CBA 28-day note yield at 6.5%: what this means for short-term liquidity
The yield on CBA 28-day notes at the September 30 auction was 6.5% versus 5.63% at the end of July. We examine why this does not prove policy tightening and what to check at the next auctions.
CBA 28-day note yield rose to 6.56% with sterilization volume of 1,802.5 million manats
The auction on September 16, 2026 gave 6.56% versus 6.26% a week earlier and 5.63% at the end of July — the price of short liquidity in manats is again higher than in mid-summer.
CBA notes in circulation rose noticeably, while money market rates behaved differently
The outstanding balance of CBA notes in circulation rose from 483.8 million manats in June to 1802.5 million manats in September, while note yields and the interbank rate moved unevenly.