Eurobond prices are up amid lingering uncertainty about US aid.

According to ICU, Ukrainian Eurobond prices rose last week in response to the anticipated approval of the EU aid package for Ukraine, while assistance from the US is still uncertain.

Last Tuesday ended a nearly two-week-long downward trend for Ukrainian Eurobonds; their prices rose by 3% on average to 23/31. The price range for Eurobonds with different maturities tightened to 12.6%. The price of VRIs was up by 0.5%, staying below 47 cents per dollar of notional value. The EMBI index slid by 0.2% last week.

As ICU explains, last week’s Eurobond prices recovered some of the losses from the past two weeks. The chances are high that a financial aid package from the EU will be approved this week. This may further support Eurobond prices.

Meanwhile, bondholders are keeping a close watch on the progress with further assistance from the US. An IMF mission will start in February that will review the EFF program and may approve the restructuring terms for Ukrainian paper. All these factors together will be decisive in determining Eurobond prices in the coming weeks.