Strategy Note /
RussiaRussia wakes up to sovereign default
Russia looks set to default after the grace period for coupons on two sovereign bonds expired yesterday without payment
Moscow will protest that it has sought to make payment but these are blocked by sanctions
But default is largely symbolic with prices already in deeply distressed territory while recovery is a distant prospect
Stuart Culverhouse
Chief Economist & Head of Fixed Income Research @ Tellimer Research
27 June 2022
Published byTellimer Research
