LONDON: Ukraine sovereign credit markets could weaken further if no progress is made in the coming weeks towards a ceasefire in its near three-year long war with Russia, analysts at Morgan Stanley said on Friday.
“We estimate Ukraine sovereign credit is already pricing 60% probability of a lasting ceasefire, meaning markets could weaken further if no progress is made in the coming weeks,” the bank’s analysts said in a report.
Russia says it took control of three more east Ukrainian villages
Striking of a sustainable ceasefire could still lift the bonds though.
“By sustainable ceasefire, we mean one that is backed by credible security guarantees and an effective ceasefire management framework, in other words a big improvement from the prior Minsk agreements from 2014-15,” the report said.
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