Fixed Income

April 01, 2019
 

Quotes for Ukrainian sovereign Eurobonds saw decreased volatility last week while demonstrating a mixed performance ahead of the weekend’s initial round of presidential voting. The country’s longest outstanding issue, Ukraine-32s, edged up 0.3% to close at 88.7/89.7 (8.8%/8.7%) while medium-term Ukraine-24s declined by 0.3% to 95.9/96.9 (8.7%/8.5%). In major economic news, the National Bank of Ukraine once again emphasized that it would continue a tight monetary policy which could restrain economic growth but would help to reduce consumer inflation. The central bank forecasts that Ukraine’s GDP will rise by 2.5% YoY this year after growth of 3.3% YoY seen in 2018.