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