Ivory Coast Eurobonds Rise to Seven-Week High on Rebel Offensive
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Ivory Coast’s defaulted dollar-denominated bonds rose to their highest in seven weeks as rebels said they had seized four towns, adding to speculation of an end to a political stalemate from disputed Nov. 28 elections.
The West African nation’s bonds rallied 2.9 percent to 39.375 cents on the dollar, the highest price since Feb. 7, as of 3:13 p.m. in London, according to data compiled by Bloomberg. The yield dropped 22 basis points to 8.7 percent.