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Financial reports

Emanuel Tumusiime Mutebile on Reforming the Government Debt Market

There are also problems with the efficiency and volatility of our securities markets. Evidence for this is the often erratic bidding behavior at bond market auctions, with bids which are at odds with prevailing secondary market rates and a normal positively sloped bond yield curve. In part this reflects a lack of transparency in the securities markets; for example, the closing prices and yields on the secondary markets are not available to all market participants. It also reflects the need to improve the understanding of key market issues by some participants.

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