Ukraine bonds sink into distress, Russia drops as tensions mount

1/18/2022 12:05:00 AM

Ukraine bonds sink into distress, Russia drops as tensions mount

Cdm, Cdv

Ukraine bonds sink into distress, Russia drops as tensions mount

Ukrainian sovereign dollar bonds tumbled into distress territory and Russian bonds suffered sharp falls on Monday as fears of another Russian military foray into Ukraine showed no sign of easing.

SPREADS SOARUkraine's bond spreads, seen as a proxy for such risks, have already more than doubled since November and are now at levels last seen at the height of the March 2020 COVID-19 market rout.They are also broadly comparable to levels hit when Russia invaded and then annexed Crimea in March 2014, although spreads then blew above 4,000 bps in early 2015 when Kyiv was tipped into default in the resulting turmoil.

Monday's sell-off saw Ukraine's bonds continue to fall on international debt markets. Some were down more than 3 cents on the day at nearly 80 cents in the dollar having been at 100 cents just over a month ago.Many issues also saw bid-ask spreads widen to well over one cent, indicating that traders were having difficulty offloading their bonds.

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Ukraine blames Russia for cyberattack against government websites | EngadgetUkraine has pinned a major cyberattack on Russia, and the malware involved is built to do serious damage.. Sounds familiar.. 🤔 I vote to give the right side of Ukraine to Russian speaking Ukrainians…. Which already are the majority on that area.

Ukraine claims Russia behind cyberattack in 'hybrid war' as threat of invasion loomsUkraine says Russia was behind a cyberattack that defaced government websites and alleged that Russia is engaged in a 'hybrid war' against the country

Ukraine claims Russia behind cyberattack in 'hybrid war' as threat of invasion loomsThe attack comes as the threat of a Russian invasion of Ukraine looms and diplomatic talks to standoff appear stalled. Good luck Ukraine . You have Biden in the White House. Help yourself. Always remember what had happened in Afghanistan.

Ukraine claims Russia behind cyberattack in 'hybrid war' as threat of invasion loomsThe attack comes as the threat of a Russian invasion of Ukraine looms and diplomatic talks to standoff appear stalled. I stand with Russia 1 Duh We need Regan

Ukraine accuses Russia of waging 'hybrid war'Ukraine has accused Russia of perpetrating a cyberattack on its government and private computer networks, calling it the latest move in 'Russia's hybrid war against Ukraine.' Been waging one since 2014. Cyberattack is just one manifestation of that

Ukraine Accuses Russia of Launching Massive Cyberattack in ‘Hybrid War’ Effort“All evidence indicates that Russia is behind the cyberattack,” the country’s Ministry of Digital Development said of the hacks, which took down at least 70 government websites.

read more SPREADS SOAR Ukraine's bond spreads, seen as a proxy for such risks, have already more than doubled since November and are now at levels last seen at the height of the March 2020 COVID-19 market rout.reports , Ukraine's digital transformation ministry has blamed Russia for the hack, accusing the country of fighting a"hybrid war" meant to"destabilize" an already tense situation and erode trust in the Ukranian government.Email KYIV, Ukraine -- Ukraine said Sunday that Russia was behind a cyberattack that defaced its government websites and alleged that Russia is engaged in an increasing"hybrid war" against its neighbor.Email KYIV, Ukraine -- Ukraine said Sunday that Russia was behind a cyberattack that defaced its government websites and alleged that Russia is engaged in an increasing"hybrid war" against its neighbor.

They are also broadly comparable to levels hit when Russia invaded and then annexed Crimea in March 2014, although spreads then blew above 4,000 bps in early 2015 when Kyiv was tipped into default in the resulting turmoil. Monday's sell-off saw Ukraine's bonds continue to fall on international debt markets. The company's Threat Intelligence Center noted that the code was purely destructive malware disguised as ransomware. Some were down more than 3 cents on the day at nearly 80 cents in the dollar having been at 100 cents just over a month ago. "All evidence indicates that Russia is behind the cyberattack. Many issues also saw bid-ask spreads widen to well over one cent, indicating that traders were having difficulty offloading their bonds. All known targets are in Ukraine, and there aren't any tangible links between this campaign and other groups. "Ukraine has probably lost market access, and this could complicate financing plans this year, if sustained," said Stuart Culverhouse at Tellimer. The attack comes as the threat of a Russian invasion of Ukraine looms and diplomatic talks to resolve the tense standoff appear stalled.

Last month the head of Ukraine's debt management department told Reuters the country was hoping to wait out the current tensions. A spokesperson for President Putin said Ukraine pinned everything on Russia,"even the weather. More News Videos Joe Biden will speak to Vladimir Putin -- their second conversation this month amid heightened fears of a full-scale invasion of Ukraine. It will need money at some point though with a $1 billion refinancing deadline in September. read more Ukraine Russia bonds feeling the heat Russian sovereign bonds also felt the pain. Yields on Russia's 10-year benchmark OFZ government bonds hit their highest since April 2016 at 9. Microsoft said in a different, technical post that the affected systems"span multiple government, non-profit, and information technology organizations.5% ." It said it did not know how many more organizations in Ukraine or elsewhere might be affected but said it expected to learn of more infections.

Refinitiv data also showed the country's 2043-maturing dollar-denominated bond tumbling more than 5 cents at one point and again many of the bonds hit their lowest since 2020's pandemic rout. Russian spreads over U.S.S. Treasuries widened as far as 238 bps on the day which left them 71 bps up this year. The moves were then pruned slightly after German newspaper Handelsblatt reported that Western governments had taken the option of cutting Russian banks off from the crucial Swift global payment system off the table. That virus, also disguised as ransomware, was a so-called"wiper" that erased entire networks. That virus, also disguised as ransomware, was a so-called"wiper" that erased entire networks.

(.JPMEGDRUSR) The rouble also edged higher on that speculation, but 5-year credit default swaps (CDS) for both countries rose again, too. Ukraine's CDS which investors use to hedge their risk were up 76 basis points from Friday close at 918 bps, data from IHS Markit showed." --. Russia's jumped by 34 bps to 215 bps. Veteran Ukraine and Russia watcher at BlueBay Asset Management Tim Ash called it a "strange day" when markets had suddenly woken up to the risks of the situation.

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