Russia’s Set for Venezuela-Style Default

Dutch Uncle said:
Numbers don't lie: Morgan Stanley predicts Venezuela-style default in Russia by mid-spring.


https://www.bloomberg.com/news/arti...s-russia-set-for-venezuela-style-debt-default
The odds of Russia making its foreign debt payments are diminishing as bond prices fall, recession in the nation looms and various payment restrictions pile up after the invasion of Ukraine, according to Morgan Stanley & Co.

“We see a default as the most likely scenario,” Simon Waever, the firm’s global head of emerging-market sovereign credit strategy, wrote in a Monday note. “In case of default, it is unlikely to be like a normal one, with Venezuela instead perhaps the most relevant comparison.”

The default may come as soon as April 15, which will mark the end of a 30-day grace period on coupon payments the Russian government owes on dollar bonds due in 2023 and 2043, he said.
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Wouldn't it be grand if Jina held billions in their debt, the way they do in ours?
 
Dutch Uncle said:
ROFLMAO! I hadn't even considered that Trump bet his ass on Russia and is watching his fortune shrink daily. :rofl2:
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I think he's been laundering Putin's money, which puts trump in a fairly safe position. I'm thinking Putin's cash has paid for most of trump's failing golf courses.

Sure...trump owes Putin's banks hundreds of millions. If they fail, is trump once again going to walk away free as a bird?
 
Althea said:
Wouldn't it be grand if Jina held billions in their debt, the way they do in ours?
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At this rate, they will. In fact, anyone doubling down on Russia now could make a mint once Putin is whacked by his gangster buddies.

I went through a divorce a couple years after the 2008 financial crisis. Long story short, I took my half of our life's savings and doubled down on my savings via dollar cost averaging every pay check. When the stock market came back, as it will after this, my savings not only caught up but put me back on track.

This downturn is hurting part of my portfolio, but most of it locked up in a stable retirement fund. If the US economy collapses like the Russian economy is about to do, then I'm down to ammo and toilet paper for trading goods.
 
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Althea said:
I think he's been laundering Putin's money, which puts trump in a fairly safe position. I'm thinking Putin's cash has paid for most of trump's failing golf courses.

Sure...trump owes Putin's banks hundreds of millions. If they fail, is trump once again going to walk away free as a bird?
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I'm not business guy but know the rules are a bit different for the international rich.

What if Putin has enough money put away to take out Trump? Better yet, just release tapes on Trump. LOL
 
“If Russia does default on its debt ... there will be broad spillover effects to sovereign debt in emerging markets around the world and China will not be unscathed from that,” he told CNBC’s “Squawk Box Asia.” “But I’m talking really of broader risks — guilt by association.”

Roach, a senior fellow at Yale University, added that “China cannot afford to stay in close alignment with Russia as it mounts this truly God-awful campaign against innocent Ukraine right now.”

“And the sooner China breaks with Russia, the better — and we’ll have to wait and see and watch that very closely,” he said.
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https://www.cnbc.com/2022/03/07/ste...ult-would-hit-emerging-markets-and-china.html

Want to bet?
 
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