Moscow Bond Traders Watch as Ukraine Stand­off Sinks Vol­umes

The Economic Times - - Money & Banking -

Rus­sian bond traders are sit­ting out the deep­en­ing cri­sis with Ukraine as for­eign in­vestors pull their cash and losses ac­cu­mu­late. Sec­ondary-mar­ket bond vol­umes on the Moscow Ex­change slid 43% in April to 759 bil­lion rubles ($22 bil­lion), the big­gest year-on-year drop since at least 2010, ac­cord­ing to data on the bourse web­site. South African trad­ing dropped 24% to 1.39 tril­lion rand ($134 bil­lion) last month from a year ear­lier, Jo­han­nes­burg Stock Ex­change fig­ures show. The col­lapse in trad­ing co­in­cides with es­ca­lat­ing tur­moil as the US and Euro­pean al­lies slap sanc­tions on Pres­i­dent Vladimir Putin’s in­ner cir­cle amid the cri­sis in Ukraine, threat­en­ing to help push Rus­sia into a re­ces­sion. While bonds have slumped, ris­ing vo­latil­ity has fu­eled stock-ex­change vol­umes as in­vestors spec­u­late about whether spe­cific com­pa­nies and their own­ers would be tar­geted for penal­ties. — Bloomberg

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