Market Insider (March 7)
2022/ 03/ 07 by jd in Global News
With prospects rising for Russia’s “first major foreign bond default in over 100 years,” economist Stephen Roach has cautioned that a “sovereign debt default would not be an isolated financial-markets incident, and instead, it had the capacity to spill over into emerging markets and even affect China.” After downgrading Russia’s credit to junk territory, Moody’s further “downgraded Russia’s credit rating to CA – one notch above ‘default.’” Meanwhile, Russian stocks have been kicked out of global indexes by MSCI and FTSE Russell, with MSCI calling Russian stocks “uninvestable.”
Tags: Uninvestable
