Ukraine Fixed Income Weekly (December 15-19, 2014)
During the previous week the prices of Ukrainian sovereign Eurobonds were extremely volatile. On Tuesday prices of UKRAIN-15 Eurobonds dropped by 13 points, while UKRAIN-23 prices declined by nearly 7 points. The declines were most likely due to fears of a further delay in the disbursement of the next IMF tranche to Ukraine and the hard position of the EU insisting that the Ukrainian government show some progress on reforms. However, prices recovered somewhat by the end of the week, reacting to positive news about Obama signing the “Ukraine Freedom Support Act” bill and the possibility of additional financial assistance from the EU and IMF.