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Dollar bonds of the Ukrainian sovereign and several of its corporates continued to trend higher amid increasing expectations that details about a war-ending deal would emerge next week. As per Bloomberg, Ukraine’s dollar bonds have generated returns of nearly 8% YTD, making them among the top-performing EM notes. The new US administration is expected to present a plan to end the Russia-Ukraine war at the conference in Germany next week. This may include stopping the conflict, providing Ukraine with security guarantees, and possibly even holding elections in Ukraine after a ceasefire.
MetInvest’s notes were up by 4-5%, DTEK’s and Kondor’s notes were higher by over 3% and the sovereign’s offshore bonds were up by nearly 5%.
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