Here’s Why a Russian Bond Default Would Be Particularly Messy
Soldiers of the presidential regiment patrol at the grave of the unknown soldier near the Kremlin wall in Moscow, Russia.
Photographer: Andrey Rudakov/BloombergListen to Odd Lots on Spotify
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There’s a big question over whether Russia will be able (or willing) to make payments on billions of dollars it’s borrowed from investors given its current situation. Not only does the country have a history of previous major defaults, but some of its outstanding bonds are also structured kind of strangely. On this episode of the Odd Lots podcast, Tracy Alloway and Joe Weisenthal speak with University of Virginia law professor Mitu Gulati and University of North Carolina's Mark Weidemaier. They describe how odd some Russian bonds are and what might happen after default.