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Ukraine bonds rally again on hopes for quick end to war, more funding
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Ukraine bonds rally again on hopes for quick end to war, more funding
Nov 14, 2024 11:53 PM

LONDON, Nov 14 (Reuters) - Ukraine's sovereign dollar

bonds extended a post-U.S. election rally on Thursday on

optimism that Donald Trump's return to the White House could end

the country's war with Russia and on expectations of an imminent

funding boost.

Longer-dated maturities saw the biggest gains, with 2035

paper rising 2.6 cents to be bid at 56.73 cents, its highest

since the bonds were launched in early September as part of the

country's debt restructuring, Tradeweb data showed.

Ukraine's GDP warrants - fixed income instruments linked to

economic growth - were also on a tear, adding 1.8 cents to trade

at 78.56 cents in the dollar.

Hopes for a swift resolution to the Russia-Ukraine war

have seen the bonds push as much as 9 cents higher since Trump

won the U.S. election on Nov. 5. Trump has pledged a quick end

to the conflict but has yet to share details on how he would

achieve that.

Adding to the momentum are expectations for more

imminent support for the war-ravaged country from the outgoing

U.S. administration of President Joe Biden and the International

Monetary Fund.

Outgoing U.S. Secretary of State

Antony Blinken

assured NATO on Wednesday that the Biden administration

would bolster its support for Ukraine ahead of Trump's return as

president in January.

An

IMF monitoring mission

is in Kyiv this week for talks that may open a path for

another $1.1 billion tranche under its $15.6 billion four-year

loan programme.

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