February 11, 2016 | Cbonds
|Fyodor Bagnenko, Fixed Income Trader, Dragon Capital:|
A very volatile trading session yesterday with essentially all bids getting hit on the “IMF is concerned” headlines and the bonds dropping 2pt at that moment. Shortly afterwards, several buyers emerged, clinging to the idea that the IMF intervention is actually a push in the right direction for Ukrainian politicians, and the market quickly rallied back to unchanged levels with very few bonds changing hands. Quasi sovereigns were heavier, seeing some supply during the day and closing 0.5pt lower. News of the Lagarde-Poroshenko call came in well after the close and should be supportive for the market today (note the emphasis the president made on “the necessity of rebooting the government without snap elections”) along with a new overweight recommendation on Ukrainian bonds from a major bank.
|Full company name||Ukraine|
|Country of risk||Ukraine|