Belarus Bonds Rebound From Record Lows as Devaluation Expected

Belarus’s dollar-denominated bonds rebounded from yesterday’s plunge, which pushed yields to record highs on currency-devaluation concern.

The country’s dollar bonds due in 2018 rose 1.2 percent to 88.825 cents on the dollar, the biggest jump since they were sold in January, pushing the yield down 25 basis points to 11.978 percent as of 10:46 a.m. in London, according to prices on Bloomberg. Belarus dollar bonds maturing in 2015 gained 0.9 percent, trimming the yield 25 basis points to 12.126 percent. It was the first day of gains in the past three days.