What Argentina And Macri Can Teach Zelensky And Ukraine
(4 min read)
Ukrainian assets are on fire. The 10-year Eurobond has returned nearly 30%, the local currency has delivered well over 20% (including carry), and even the obscure GDP warrants have rallied 45% (see Fig. below). This surge is down to the election of a Volodymyr Zelensky, a reform inclined president who although inexperienced holds a strong mandate and parliamentary support. It is a situation similar to the 2015 election of Mauricio Macri in Argentina. But while Zelensky – an actor known for playing a television president – may not be as accomplished as Macri, his odds of success may just be better...
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