Bonds News

Sweeping reshuffle knocks Ukraine dollar bonds to multi-month lows

LONDON, March 5 (Reuters) - Ukraine’s dollar-denominated sovereign bonds suffered a second day of sharp declines amid a sweeping reshuffle by President Volodymyr Zelenskiy that has raised questions about the country’s reform momentum.

Longer-dated bonds suffered the heftiest falls with the 2032 bond falling 3.76 cents in the dollar to 105.51 cents, according to Refinitiv data. Both the 2027 and 2028 issues lost more than 2 cents as well, with many bonds trading at multi-month lows.

On Wednesday, Zelenskiy ousted Oleksiy Honcharuk as prime minister after just six months in a reshuffle on Wednesday, saying that “new brains and new hearts” were required to revive the economy and tackle corruption. (Reporting by Karin Strohecker; Editing by Tom Arnold)