Fixed Income
January 13, 2014
Ukraine’s sovereign Eurobonds demonstrated a solid rise in the first full trading week of 2014 amid a general bond rally in Europe. Yields from Ireland to Greece fell to their lowest levels since at least 2010, as more signs of global economic recovery helped to feed increased demand for high-yield securities. Benchmark Ukraine-23s added 2.6% over the week to close at 92.0/93.5 (8.8%/8.5%), and medium term Ukraine-17s advanced by an impressive 3.7%, ending at 95.4/96.6 (8.2%/7.8%). Corporate and banking issues were also notably higher. Metinvest-15s jumped by 4.2% to 103.4/104.1 (7.6%/7.0%) and DTEK-18s increased by 1.4% to 95.4/96.5 (9.2%/8.9%).
