Bonds 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.

T HE SOUTH CAUCASUS is a mosaic of warring rivals and closed borders. Lookout posts and bunkers dot its frontiers. On August 8th Donald Trump met Armenia’s prime minister, Nikol Pashinyan, and Azerbaijan’s president,

Armenia and Azerbaijan published the text of a U.S.-brokered peace agreement on Monday, pledging to respect each other's territorial integrity and formally put an end to nearly four decades of conflict.