Trump Peace Push Fuels ‘Win-Win’ Bond Rally in the Caucasus
Azerbaijan's President Ilham Aliyev, from left, US President Donald Trump, and Armenia's Prime Minister Nikol Pashinyan display signed agreements during a ceremony at the White House in Washington on Aug. 8.
Photographer: Nathan Howard/BloombergBonds from Armenia and Azerbaijan rallied after a peace agreement brokered by U.S. President Donald Trump last week between the countries’ leaders spurred hopes of revived trade ties after decades of conflict.
Armenia’s dollar-denominated bonds surged across maturities, with its 2035 notes rising above 100 cents on the dollar for the first time since they started trading in March. Azerbaijan’s 2032 bonds also extended their strong performance this year, climbing more than 8%.