Fixed Income
May 13, 2013
Ukrainian sovereign Eurobonds followed up an outstanding first week of May by rising again last week, as the country’s credit-default-swap (CDS) rate fell 35 ticks to 575 bps amid continued strong global risk appetite. The release of CPI data for April, which showed another month of non-existent inflation, looked positive for investors betting on political stability, and it now appears likely that no hryvnia devaluation will occur until at least September.
