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Bondholders Eye Russia’s Expulsion From $842 Billion Club

  • Russian debt excluded from key JPMorgan indexes on March 31
  • JPMorgan EM gauges tracked by estimated $842 billion in assets
Updated on

Investors are bracing for more losses in Russian debt as expulsion from key indexes in the wake of President Vladimir Putin’s invasion of Ukraine hits an already trampled market. 

Russia’s government and corporate bonds have been removed from the closely-followed JPMorgan Chase & Co. suite of emerging-market bond indexes, known as EMBI, leaving some money managers whose funds track the gauge with little choice but to sell or write down their holdings. JPMorgan also scrapped the sovereign and quasi-sovereign debt of Belarus from its indices.