The political turbulence roiling the European Union is making Russia look like a safe bet to bondholders.For money managers wary of the elections looming in Europe, the worst relations with the West since the Cold War and sanctions on Russia’s biggest companies are no deterrent. The nation’s debt is cheaper to insure against default than Italy’s. A victory for populists in the Netherlands on March 15 could give anti-EU candidates a boost when voting is held in France, Germany and possibly Italy this year.Russian bonds have the allure of a haven after recovering oil prices helped pull the economy from …read more
Source: Gulf times
