Putin’s Cease-Fire Meets Market Skepticism as More Fighting Seen
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The cease-fire agreement hammered out for Ukraine has some investors saying it will do little more than give a breather to two of the world’s worst-performing currency and bond markets.
After all-night talks resulted in an accord announced by Russian President Vladimir Putin early Thursday, the ruble and hryvnia traded lower. Ukraine’s $2.6 billion of bonds due 2017 climbed to 57 cents on the dollar.