Investment strategy Correspondent
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Feb 28, 2014

Hryvnia gains on IMF hope; Brazil’s real dips

RIO DE JANEIRO/LONDON, Feb 28 (Reuters) – Ukraine’s hryvnia
jumped as much as 10 percent on Friday on hopes of a loan from
the International Monetary Fund, while the Brazilian real slid
0.5 percent after the latest budget data poured cold water on
hopes that the country would halt a deterioration in its fiscal
performance.

Russia’s rouble gained slightly but stayed near five-year
lows to the dollar on Friday, pressured by fears about
instability in neighboring Crimea.

Feb 28, 2014

Rouble slides further, hryvnia gains on IMF loan hopes

LONDON, Feb 28 (Reuters) – Russia’s rouble stayed near
five-year lows to the dollar on Friday, hit by fears about
instability in neighbouring Crimea, but Ukraine’s hryvnia
rebounded, trading 5-10 percent firmer on hopes of an IMF loan.

The rouble and other emerging currencies were also pressured
by jitters over the recent volatility in the Chinese yuan which
posted its biggest daily fall since China created its foreign
exchange market in 1994.

Feb 27, 2014

“Toxic Trio” of emerging markets complicates life for bond funds

LONDON, Feb 27 (Reuters) – High-yielding dollar bonds from
Venezuela, Argentina and Ukraine, once at the core of most
emerging debt portfolios, are deep in the red, leaving investors
scrambling for the returns they once provided.

Dubbed the Toxic Trio by one investor, the countries have
seen sharply higher political tension, falling central bank
reserves and a default probability of over 50 percent in the
coming five years, as priced by debt insurance markets.

Feb 27, 2014

Russia, neighbors spooked by geopolitics; Brazil supported by GDP

RIO DE JANEIRO/LONDON, Feb 27 (Reuters) – Geopolitical
tensions drove Russia’s rouble to five-year lows against the
dollar while pushing Ukraine’s hryvnia 9 percent lower, but
Brazilian markets were supported by data showing the economy
grew far more than expected at the end of 2013.

Russia’s defiant response to the political turmoil in
neighboring Ukraine spooked investors in Europe and Asia, with
Moscow quoted as saying fighter jets along Russia’s western
borders had been put on combat alert.

Feb 27, 2014

Russia, neighbours spooked by geopolitics; hryvnia sinks

LONDON, Feb 27 (Reuters) – Geopolitical tensions
reverberated through emerging markets on Thursday, driving
Russia’s rouble to five-year lows against the dollar while the
newly unshackled Ukrainian hryvnia tumbled 9 percent and central
European assets also weakened.

Russia’s defiant response to the political turmoil in
neighbouring Ukraine spooked investors, with Moscow quoted as
saying fighter jets along Russia’s western borders had been put
on combat alert.

Feb 26, 2014

Ukraine currency hits record low, Brazil real snaps winning streak

SAO PAULO/LONDON, Feb 26 (Reuters) – Ukraine’s hryvnia
currency tumbled on Wednesday to a record low, as investors were
unsettled by the country’s murky political and economic
outlook, while Brazil’s real retreated after a five-day rally.

Ukraine remains without a settled government several days
after President Viktor Yanukovich was overthrown, raising fears
the country will fail to secure outside financial support in
time to repay debts as its own hard currency reserves dwindle.

Feb 26, 2014

Ukraine hryvnia at record low, Russian assets hit

LONDON, Feb 26 (Reuters) – Ukraine’s hryvnia tumbled 4
percent on Wednesday to 10 per dollar as political uncertainty
mounted, with ripples spreading to Russia where the rouble fell
to five-year lows and bank shares took a hit.

Broader emerging assets also remain under heavy pressure
even though a smaller fall in the Chinese yuan than in previous
sessions provided some relief.

Feb 26, 2014

Mounting Ukraine fears hit hryvnia, spill into Russia

LONDON, Feb 26 (Reuters) – Ukraine’s hryvnia tumbled 4
percent on Wednesday to 10 per dollar on Wednesday as political
uncertainty mounted, its weakness spilling into the Russian
rouble, taking that currency to a fresh five-year dollar low.

Broader emerging assets however traded broadly in positive
territory on the back of a smaller fall in the Chinese yuan than
previous sessions.

Feb 25, 2014

Ukraine’s bonds resume fall; hryvnia hits record low

LONDON, Feb 25 (Reuters) – Ukraine’s hryvnia fell to record
lows against the dollar on Tuesday while its dollar bonds
tumbled as concerns grew about the ability of the country to pay
its debts in the near-term.

A rally in Ukraine’s dollar bonds that followed the weekend
overthrow of president Viktor Yanukovich is fading quickly as
investors fret over what conditions might be attached to any
rescue package led by the International Monetary Fund.

Feb 24, 2014

Ukraine bond investors remain anxious despite relief rally

LONDON, Feb 24 (Reuters) – While bond markets have reacted
jubilantly to the possibility of Western aid for Ukraine,
big-name investors are worried about how fast Kiev can secure a
rescue and whether an IMF bailout may reschedule its debts.

The faith of funds such as Templeton, Fidelity, Amundi, ING
and Stone Harbor Investment Partners in Ukraine’s ability to
repay its debts seemed to have been vindicated late last year
when Russia offered Kiev a $15 billion rescue.