Russia joins inflation-linked bonds club (FINANCIAL TIMES)
Wed Jul 22, 2015 2:19 pm
Russia last week joined the club of emerging market nations that issue inflation-linked bonds, with a heavily oversubscribed debut Rbs75bn ($1.3bn) issue.
The move, a rare recent success for a country battling the twin perils of recession and international sanctions, puts Moscow on a par with the likes of South Africa, Brazil, Mexico and Turkey in issuing inflation-linked debt.
However, all these countries, Russia included, share something else. On the face of it, their linkers look poor value compared with nominal government bonds......................
To read further go to this link: ft.com
The move, a rare recent success for a country battling the twin perils of recession and international sanctions, puts Moscow on a par with the likes of South Africa, Brazil, Mexico and Turkey in issuing inflation-linked debt.
However, all these countries, Russia included, share something else. On the face of it, their linkers look poor value compared with nominal government bonds......................
To read further go to this link: ft.com
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