Eurobonds continue to rebound

Обзор облигаций 24.11.2014 Ukrainian Eurobonds significantly improved at the end of last week as the sovereign yield curve adjusted to 11.50-24.78% last Friday with YTMs of bonds maturing in 2020-2023 falling below 12%. The main reason for the improvement was the decline of benchmark yields as US Treasury YTMs declined to 1.61% and 2.31%, respectively, for the 5-year and 10-year bonds. Ukrainian risks slightly declined as well and spreads to the benchmark tightened a significant 35-106bp to the range of 919-2,428bp.