Fixed Income
March 04, 2013
Quotes for Ukrainian sovereigns jumped substantially last week on a voracious appetite among global investors for high-yielding papers, after US central banker Benjamin Bernanke strongly defended the Federal Reserve’s bond-buying stimulus. The financial community took the remarks as a signal that the Fed is prepared to continue buying bonds at its present generous pace of USD 85bn per month. Benchmark Ukraine-22s rose 2.8% to 104.3/104.8 (7.1%/7.2%) and Ukraine-17s gained 1.7% to close at 111.0/111.7 (6.3%/6.2%). Quasi-sovereign Naftogaz-14s inched up 0.2%, closing at 103.6/104.4 (7.0%/6.5%).
