(Bloomberg) — Ukraine’s hard-currency bonds extended losses after a brief spike triggered by the approval of a $61 billion aid package by the US House of Representatives. Positive sentiment eroded as bondholders face tough talks with the war-turn nation about another debt restructuring.
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The country’s debt posted the best performance among emerging-markets dollar bonds when trading resumed on Monday, before turning sharply lower. A bond due September 2034 traded at 25.9 cents on the dollar as of 2:44 p.m. in London, a sixth consecutive day of losses and the lowest level since February.
“There hasn’t been any meaningful buying flow” into Ukraine bonds following the US vote over the weekend, said Viktor Szabo, investment director for emerging markets debt at Abrdn Plc. Meanwhile, “upcoming restructuring talks are adding a layer of complexity,” he said.
On Saturday, the US House passed fresh aid for…
