While Ukraine-Russia issues rumble on, other parts of CEEMEA are benefiting from outflows from those two countries.
CEEMEA markets are running on two separate tracks.
Investors had viewed Ukraine’s political troubles as a self-contained issue, but with conflict on the ground escalating last week, there were some early signs of contagion. Ukraine government bonds continued to widen over the course of the week and a slight widening of Russian paper showed early signs of nerves, according to traders.
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