Ukraine's dollar bonds continued to rise after the Kremlin confirmed plans for a meeting between the leaders of Russia and the United States, which again fueled speculation about a possible truce between Moscow and Kyiv, Bloomberg reports, writes UNN.
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Ukraine's debt securities on Thursday showed the best performance in emerging and frontier markets tracked by Bloomberg. The value of some bonds reached a four-month high.
The growth of Ukrainian debt began to gain momentum after US President Donald Trump stated on Wednesday that there was a high probability of his quick meeting with Vladimir Putin and Ukrainian President Volodymyr Zelenskyy as part of another attempt to establish peace between the two countries.
The growth accelerated after the Kremlin confirmed on Thursday that Russia and the United States had agreed on the location of the meeting between the parties, which is to take place next week.
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Ukraine's dollar bonds maturing in February 2029 rose by more than 3 cents per dollar to 65 cents, and other securities also increased in price.
However, Ukrainian debt traded significantly below the levels observed in February, when there were still expectations that Trump would fulfill his election promises to establish peace in Ukraine at the beginning of his presidency, the publication notes.
"This is a positive trend, so bonds are rising, but we need to wait for continued growth," said Roger Mark, a fixed income analyst at Ninety One UK Ltd. in London. "The focus will be on discussions at the meetings."