July 22, 2019 / 7:29 AM / 5 months ago

Ukraine dollar bonds hit 1-1/2 year high after president on track for majority win

LONDON, July 22 (Reuters) - Ukraine’s dollar-denominated sovereign bonds rose to their highest in since early 2018 on Monday after President Volodymyr Zelenskiy’s party looked on course to win a parliamentary majority in Sunday’s snap election.

Bonds maturing 2024 and beyond added between 0.5-0.8 cents in the dollar, according to Tradeweb data.

Data released early on Monday showed Zelenskiy’s party was in the lead in around 120 out of 199 constituencies in Ukraine, which would give him control of parliament and the formation of a new government and hand him a stronger mandate to implement reforms.

Reporting by Karin Strohecker; Editing by Saikat Chatterjee

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