Two Citibank strategists recommend investors buy Ukraine’s GDP warrants,

saying they could rise from 105.5c today, to 125c. In a note to investors Luis Costa and Dumitru Vicol wrote: “Mounting fiscal pressures to finance the planned 5.5%/GDP deficit for 2021 are likely to push the government to deliver the promised institutional reforms.”

Ukraine’s GDP warrants and Eurobonds reacted positively to news yesterday that Russia will start to withdraw its troops from Ukraine’s borders

. Warrants jumped from 102.5% to 104.4%, and Eurobonds rose by 0.8-2.3 percentage points, depending on maturity dates.