Հայաստանյան եվրոբոնդերի արժևորման գաղտնիքը/ Secret of Armenian Eurobond Appreciation

Unlike bonds issued in national currency, bonds in foreign currency are usually more sensitive to processes occurring in the external environment. Armenian Eurobonds are no exception. 2022 was rich in events that affected the global currency bond markets. High inflation rates, higher interest rates by the central banks of the leading countries, the Russian-Ukrainian war and the uncertainty of the future have led to an increase in bond yields. In the paper the author examines the impact of these economic and political factors on the yield of Armenian Eurobonds and shows the main reasons for their recent appreciation, which are associated with an increase in demand for these bonds from resident investors and especially financial organizations.