Foreign purchases of Ukrainian government bonds are returning to their peak levels of late 2019

Foreign purchases of Ukrainian government bonds are returning to their peak levels of late 2019, reported Dragon Capital. Over the last month, foreign purchases totalled $526 million, “close to peak monthly inflows of $560-610m in September and December 2019,” Dragon wrote. “Recent appreciation pressure on the hryvnia (+1.4% w-o-w) is likely to support interest in local bonds. We expect yields on medium-term hryvnia debt to remain close to current levels in the coming months unless an upsurge in foreign demand drives them lower.”