Fixed Income
Ukrainian sovereign Eurobonds rose across the board last week after Moscow declared its support for an armed OSCE mission to monitor the truce in the conflict-torn areas of Eastern Ukraine. The development followed Wednesday’s 4-way talks between the leaders of Ukraine, Germany, France, and Russia in Berlin. During the talks, the four leaders agreed to draw up a roadmap by the end of next month with an updated plan on how to implement the peace deal signed in Belarus early last year. Nevertheless, the positions of Kyiv and Moscow continue to differ drastically in regard to the Minsk deal’s implementation. The Poroshenko administration’s official position is that security conditions in the Donbass must be fulfilled before there is a switch to implementing the political part of the agreements, while Moscow emphasizes the latter over the former.
