Pakistan’s sovereign bonds surged on Monday as investor confidence improved following a weekend ceasefire agreement with India, Reuters reported.

The positive momentum was further supported by the International Monetary Fund’s (IMF) Executive Board approval to release approximately $2.3 billion in financial assistance to Pakistan.

Tradeweb data showed the 2036 bond leading the gains, rising 4.46 cents to trade at 77.04 cents on the dollar. The 2031 bond also saw notable gains, increasing nearly 4 cents to 83 cents on the dollar.

The rally came after the two nuclear-armed neighbors agreed to a ceasefire on Saturday, ending several days of military clashes. Military operations chiefs from both countries are scheduled to meet to discuss further steps toward lasting stability.