Before the news broke of the proposed Biden-Putin summit in late afternoon London time,

the yield on Ukraine’s dollar bond due in 2032 reached 7.67%, the highest since November and taking the 3-day increase to 34 bps. Similarly, the yield on 2026-dollar debt climbed 12 bps to 6.78%. Ukraine’s GDP warrants drop 0.3c to 99.9c on the dollar, trading below par for the first time since November, (Bloomberg).