Fixed Income

May 16, 2016

Ukrainian sovereign Eurobonds finished higher last week after news that 12-month headline inflation in the country slowed to below 10% for the first time in the post-EuroMaidan era, and that the National Bank’s foreign currency reserves increased by a solid USD 520mn to USD 13.2bn during April. Signs of economic recovery also gave a moderate boost to the VRI derivatives (linked to Ukraine’s future GDP performance), which rose by 2.9% to 30.5/31.3 cents.