Eurobond YTMs down slightly

Обзор облигаций 30.09.2014 At yesterday's, the close yield curve adjusted to the range of 10.30-19.93% as UKRAIN 6.875% '15 rose 76bp to 19.93%, UKRAIN 7.95% '21 was up 6bp to 11.10%, while UKRAIN 6.58% '16 slid 9bp to 14.81%, UKRAIN 6.75% '17 fell 40bp to 12.50%. UKRAIN 9.25% '17 fell 50bp to 14.54%, UKRAIN 7.80% '22 slid 14bp to 10.47% and UKRAIN 7.50% '23 declined 19bp to 10.30%. The 5-year CDS rose to 1,306bp. Investment implications: Ukrainian Eurobond YTMs slightly fell yesterday, mostly due to the decline in YTMs of US Treasuries on increased demand for safe haven assets due to the civil protests in Hong Kong. Spreads of Ukrainian Eurobonds to the benchmark did not move significantly.