What to Expect From Ukraine Vote: The Bull and Bear Cases

As Petro Poroshenko faces off against former Prime Minister Yulia Tymoshenko in today’s Ukrainian elections, investors are preparing for several possible outcomes.

Ukraine’s dollar bonds advanced for nine straight days ahead of the ballot on speculation that an elected leader would be recognized by Russia and start negotiations to ease a three-month standoff triggered by President Vladimir Putin’s annexation of the Crimean peninsula. Russian debt and Moscow’s Micex stock index also rallied as the threat of further sanctions from the U.S. and the European Union subsided.