Time To Get Rich on Ukrainian Bonds?

Credit Markets in Crisis

In a stunning case of déjà vu (think Ireland, Greece and Portugal), credit markets are imploding in Ukraine.

The country is sitting on $10 billion in foreign-currency debt that matures this year, with the peak coming in May, June and August.

And go figure, as military tensions spiked with Russia, so did yields. In a big way.

In a matter of days, yields on six-month Ukrainian bonds more than doubled to 48%, as every sane investor hightailed it for the exits.

"This is what it looks like when the market completely loses faith in a country's finances," says Business Insider's Matthew Boesler. 
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