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Ukraine dollar bonds, GDP warrants, extend Trump-win rally

BY Reuters | ECONOMIC | 11/07/24 04:54 AM EST

LONDON, Nov 7 (Reuters) - Ukraine's sovereign dollar bonds and GDP warrants extended a post-U.S. election rally on Thursday, gaining more than 2 cents on optimism that Donald Trump's return to the White House could end the country's war with Russia.

Longer-dated maturities saw the biggest gains, with the 2035 paper rising by more than 2 cents to nearly 50 cents on the dollar, its highest since the bonds were launched in early September as part of the country's restructuring.

The country's GDP warrant - a growth linked fixed income instrument that is still earmarked for restructuring - added 2.6 cents to bid at 76.4 cents, the highest since Russia's invasion in February 2022, Tradweb data shows. (Reporting by Libby George and Karin Strohecker)

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In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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