Ukraine bonds sink into distress, Russia drops as tensions bite – Reuters
- Date: 17-Jan-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Lebanon
Ukraine bonds sink into distress, Russia drops as tensions bite – Reuters
LONDON, Jan 17 (Reuters) - Ukrainian sovereign dollar bonds slipped into distressed territory and Russian bonds suffered sharp falls on Monday as geopolitical tensions between the two countries showed no sign of easing.
The premium investors demanded to hold Ukraine bonds over safe-haven U.S. Treasuries as measured by the JPMorgan EMBI Global Diversified index (.JPMEGDUKRR) blew out to 1,001 basis points. Less than a dozen countries in the 70-plus strong index have spreads wider than 1,000 bps indicating payment stress or an actual default, with the likes of Venezuela, Zambia, Lebanon as well as Sri Lanka and Ghana in that category.
"The market has to price in some kind of probability of Russia invading," said Viktor Szabo at asset manager abrdn.
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