Fixed Income

March 04, 2019

Quotes for Ukrainian sovereign Eurobonds showed a mixed performance last week, with the longest outstanding issue ending lower. The political agenda in Ukraine has come into focus for international investors, who are concerned about the rise of Eastern Ukrainian actor and entertainment mogul Volodymyr Zelensky, who is leading in polls over President Poroshenko and leftist opposition candidate Yulia Tymoshenko ahead of the Mar 31 initial round of presidential voting. However, it is unlikely that Zelenskiy will receive an absolute majority, so a decisive runoff round will be held on Apr 21. In economic news, Ukraine’s industrial production decreased by more than expected in January, falling by 3.3% YoY and representing a third straight monthly decline in industrial output in the country.