Ukraine’s bonds fell to a record as the IMF was said to have found a $15 billion shortfall in the country’s budget, adding to speculation the government will fail to repay its debts.
The price of Ukraine’s dollar-denominated bonds maturing in July 2017 tumbled 6 cents to 67.5 cents on the dollar at 5:54p.m. in Kiev, the lowest level on record. The yield surged 4.12 percentage points to 27.42 percent, almost double the yield on bonds maturing in 2023. The UX stock index dropped 2.8 percent, extending a five-day slump to 7.5 percent.