Fixed Income
September 02, 2013
Quotes for Ukrainian sovereigns remained depressed last week along with those for most other EM issues, as global jitters over the looming prospect of a US-led military strike against the Syrian government suppressed risk appetite despite attractive yield levels. Investors were also concerned that even a minor economic slowdown in China could hurt the countries that send it raw materials. China is a major destination market for Ukrainian iron ore exports. Benchmark Ukraine-23s declined by 1.0%, with yields only barely remaining below 10%, to close at 85.4/86.0 (9.9%/9.8%).
