Investors welcomed Ukraine’s preliminary deal with the IMF, giving government bonds their biggest daily gain in a year.

Investors welcomed Ukraine’s preliminary deal with the IMF, giving government bonds their biggest daily gain in a year. Yields on 10-year Eurobonds fell 36 basis points, to 6.99%. GDP warrants jumped the most in three months. The hryvnia strengthened to 23.70 to the dollar, the strongest since January 2016. Bloomberg reports: “Monday’s gains add to a rally in Ukraine’s dollar debt that has handed investors a 28% return this year, the most among countries in the Bloomberg Barclays Emerging Market USD Total Return Index.”