Kiev Chaos Jumps Borders as Markets Teeter: East Europe Credit
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Markets from Hungary to Poland and Russia are suffering contagion from the violence rocking Ukraine’s capital, sending bond yields higher and currencies lower as the turbulence afflicting developing nations deepens.
Hungary’s forint weakened for a third day today, while Russia’s ruble rebounded from an all-time low. The yield on Poland’s 10-year bond was little changed after climbing the most in a week. Ukraine’s debt due in June gained, sending the rate to 33 percent at 12:44 p.m. in Kiev after it jumped 19 percentage points to a record 42 percent yesterday.