Published by Global Banking & Finance Review®
Posted on February 18, 2025
1 min readLast updated: January 26, 2026
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Ukraine's bonds face their largest daily loss in months as hopes for a ceasefire diminish. The exclusion from key talks raises concerns about future stability.
LONDON (Reuters) - Ukraine's dollar bonds were on track for their biggest one-day decline in months, shaving away gains from the recent rally that has been driven by hopes for a ceasefire.
The sovereign dollar bonds extended losses to as much as 1.79 cents by 1605 GMT, with the 2035 maturity bid at 66.43 cents on the dollar. The GDP warrant, which earlier this month hit its highest level since Russia's 2022 invasion of Ukraine, also fell by 1.66 cents.
Ukraine's bonds, which were restructured last year, have rallied strongly since late last year, driven by optimism that U.S. President Donald Trump's promise to quickly usher in a ceasefire could boost Ukraine's economy.
Tuesday's losses marked the biggest daily decline since they started trading in September.
The GDP warrant's loss is its largest since mid-June last year, and brought it more than 3.5 cents below the post-invasion high it hit earlier this month.
The exclusion of Ukraine and European leaders from talks this week in Riyadh between U.S. and Russian officials has raised concerns about the durability of any deal.
(Reporting By Libby George; Editing by Amanda Cooper)
The decline in Ukraine's bonds was driven by fading optimism for a ceasefire, particularly after the exclusion of Ukraine and European leaders from talks in Riyadh.
Ukraine's dollar bonds were on track for their biggest one-day decline, losing as much as 1.79 cents by 1605 GMT.
Tuesday's losses marked the biggest daily decline since Ukraine's bonds started trading in September.
The GDP warrant experienced its largest loss since mid-June last year, falling more than 3.5 cents below the post-invasion high it reached earlier this month.
The promise from U.S. President Donald Trump to quickly usher in a ceasefire initially boosted Ukraine's bonds, leading to a strong rally since late last year.
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