Fixed Income
January 22, 2013
Quotes for Ukrainian sovereigns ended higher last week, with benchmark 10-year notes appreciating by 1.7% to 103.1/103.9 (7.4%/7.2%). Ukraine-17s added 0.3% to close at 100.9/101.8 (6.5%/6.3%). Among hot topics on the local market was the approaching arrival of an IMF mission to Kyiv on Jan 29. However, a statement on Friday (Jan 18) by Prime Minister Nikolay Azarov that the government will not meet the IMF’s demand on raising subsidized natural gas tariffs indicates that a renewal of IMF lending to Ukraine is far from being a done deal.
