Trump's re-election boosts Ukraine's dollar bonds as peace efforts gain attention

Ukraine's dollar bonds surged after Donald Trump was reelected as U.S. president, with his promises to expedite peace efforts in the war with Russia gaining attention. The bonds traded close to 74 cents on the dollar, levels not seen since before Russia's invasion in 2022. Investors have shown increased interest in Ukraine's bonds, viewing the potential for a quicker resolution to the conflict. However, significant challenges remain, as both Ukraine and Russia maintain firm positions on territorial issues, complicating peace negotiations. Despite the bond rally, broader emerging markets faced declines, particularly in Eastern European currencies. Ukrainian President Volodymyr Zelenskiy noted the importance of U.S. support while emphasizing the ongoing military reliance on aid amid the uncertain war landscape.