Volatility, which came to global markets in the first quarter of this year, has not yet thought of leaving. The share market in the US, of course, was adjusted downward, but it remains at about the level of the beginning of the year. But in the bond markets, following the growth of lending rates in the US and the growth of the dollar, a massive wave of sales swept. In some places, it reached quite a crisis scale. So Argentina, for example, after the fall of the peso spent 15% of its reserves by 15%, and raised the weekly refinancing rate to 40% to stop the outflow of capital, and again they started talking about the IMF program. The aggravation of the conflict between Israel and Iran, as well as the US withdrawal from the nuclear deal with Iran, have already led to an increase in oil prices above $ 70 per barrel, which is certainly negative for energy importers. And the rapid economic growth of Europe, it seems, again slows down somewhat. It is curious, but in the case of the future of Ukraine, some bad global news is good local news. So, for example, for many years we did not have a significant inflow of capital, and now there is nothing to flow, therefore, although the currencies of many developing countries collapsed to the dollar - the hryvnia remained stable. Ukrainian dollar bonds also fell under the sell-off, but it only means that the rates on which Ukraine can borrow in the capital markets have become prohibitively high and now no one has the illusion that there is some alternative to cooperation with the IMF. It is worthwhile, by the way, to pay tribute to how persistently this organization seeks the creation of an independent anti-corruption court in Ukraine. Now both the president and the prime minister say that the relevant law is about to be voted on. We remain optimistic about the economy and the stock market of Ukraine and in the coming months we are waiting for good news about the anti-corruption court and continued cooperation with the IMF.
