Strategy Note /

Russia 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

Russia wakes up to sovereign default
Stuart Culverhouse
Stuart Culverhouse

Chief Economist & Head of Fixed Income Research

Tellimer Research
27 June 2022
Published byTellimer Research


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