Eurobond market's negative reaction

Макроэкономика 28.11.2014 Spreads of Ukrainian Eurobonds to the benchmark continued to widen yesterday, causing the sovereign yield curve to adjust to 12.67-28.09%. The 5-year CDS declined to 1,496bp. The market reacted quite negatively to recent news that the Ukrainian Parliament did not approve the newly elected government, only the prime minister. The national holiday in the US also had an impact, as US markets were closed.