Ukraine Bonds Trade Like Crimea Never Happened Amid Yield Hunt
- Dollar-debt yield falls below 8% first time since January 2014
- Prime Minister’s appointment sidestepped new crisis this year
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The global search for bond returns has pushed Ukrainian government debt to highs not seen since before the first bullets were fired amid anti-government protests in Kiev’s central square more than two years ago.
The yield on the country’s three-year dollar debt fell below 8 percent on Monday for the first time since January 2014, before the ouster of pro-Russian President Viktor Yanukovych and the annexation of Ukraine’s Crimean peninsula. Yields have tumbled more than four percentage points and the local currency has rallied since the peak of a government standoff in February this year before the appointment of a new prime minister diffused a fresh political crisis.