“has also pushed Ukrainian sovereign bonds to their lowest level since November,” Reuters reported last night. Adamant Capital elaborated: “The price of Ukraine’s 11-year benchmark Eurobond (2032) has tumbled over the past week (by roughly 370 bps) signaling investor concerns over the possibility of a military escalation.” From the other side, the Russian ruble dropped yesterday to 77 to the dollar, its lowest level since November.
“We lean towards Moscow’s actions being more of a show of force rather than a real preparation for a confrontation…Crossing over [into the Donbas] once more, especially with the world closely watching, would completely destroy Putin’s narrative of the conflict being Ukraine’s internal affair.”
according to a poll conducted last week by the Rating Sociological group. The survey of 2,500 people was conducted before Russian TV aired video of dozens of Russian armored vehicles and self-propelled guns crossing the Kerch Strait bridge. In the poll, 45% of respondents supported restoring water supplies to Crimea and 48% did not support it.