Russia’s Corporate Debt Trading Soars as Sanctions Fail to Deter
- Daily trading volumes in corporate bonds reach two-year highs
- Yandex, Gazprom, Lukoil, Novolipetsk Steel among most traded
Source: Bloomberg
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Trading in Russian corporate debt soared to its highest levels in at least two years this month, even as the U.S. and allies tighten sanctions on Moscow in a bid to restrict investor demand for its assets.
The average daily trading volume for dollar-denominated Russian corporate bonds rose to a level last seen in March 2020. The average trading volume for this month, as of March 14, was $258 million, compared with $96 million in the same month last year, according to data from MarketAxess.