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Morgan Stanley Bet on Ukraine’s Debt Returns 47% in Three Months
A bet on exotic Ukrainian debt warrants held by Morgan Stanley Investment Management is offering some of the biggest returns across emerging markets in the space of three months. A short-lived mutiny in Russia lifted Ukrainian assets this week on bets that any disarray among Russia’s top brass could benefit President Volodymyr Zelenskiy’s efforts to support the economy and carry out a counteroffensive. That upswing in prices included the GDP warrants — originally born from a 2015 debt restructuring — which Morgan Stanley has been holding, according to a disclosure earlier this year. The $3.2 billion in August 2041 notes, whose payouts are linked to economic growth, jumped to 40 cents on the dollar this week from 27 cents at the end of March. Morgan Stanley bought some of the notes according to quarterly ownership data on Bloomberg dated March 31. A New York-based Morgan Stanley Investment Management spokesperson declined to comment on the purchases and whether it has sold some of the notes after the rally- (if you have to ask if they did, in fact, dump (sell) this all or a large portion you don't belong in any markets…of course they did!)
Ukraine’s sovereign dollar bonds beat other emerging markets and as a whole have returned more than 30% this quarter, with most of the gains registered in June, according to data compiled by Bloomberg. Corporate bonds also generated the best returns in their category. Even aside from the fallout from the uprising in Russia at the weekend, Ukraine’s economic outlook has started to look slightly less bleak than a few months ago. While trading in Ukraine’s markets has been illiquid after the government froze foreign-bond payments on its $20 billion debt pile until 2024, bonds have been supported by the prospect for more western financing, as well as an initiative to use frozen Russian assets to pay for reconstruction.
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https://www.bnnbloomberg.ca/morgan-stanley-bet-on-ukraine-s-debt-returns-47-in-three-months-1.1938573
>>19083472, >>19083683 lb
PlaneFag CONUS-DC-9 Radar/Missile test AC (raytheon) up from China Lake, SW view
N879AD DC-9 out from China Lake Naval Weapons Area again and on ground at Pt. Mugu-did same yesterday and then went off shore over and NW of Channel Islands
VVPE171 RQ-4 Global Hawk out of Pt. Mugu-been out here for afew days now
161337 US Navy P-3 Orion heading east from Pt. Mugu depart and heading for Tucson
GRZLY50 USMC C560 out of MCAS Miramar over San Clemente Naval Reservation (looks like a normal Tuesday training flight) and now East from a runway shot at SC Island Airstrip
PAT978 Beech C-12R Huron also left MCAS Miramar and on ground at MCAS Yuma
RAF SKYFALL0 A400m up and ascending just north of Yuma ttest range-seen this many times….
RCLSUX and SNIPER F-16s heading east from MCAS Yuma
Guess pilot din't like Royal Caribbean Cruise (RCL is stock symbol for it) Crusies are pfloating petri dishes
Only thing I can think of at present