Home NewsStock Market News Several major Wall Street banks resume Russian bond trading |

Several major Wall Street banks resume Russian bond trading |

by WOOWinvest
0 comment
Several major Wall Street banks resume Russian bond trading |

With the approval of the U.S. Treasury Department, a number of major Wall Street banks have begun to resume services for Russian bond trading in recent days, giving investors the opportunity to deal with what is generally regarded as “toxic” in the West, according to bank documents obtained by Reuters. asset.

After Russia invaded Ukraine, the U.S. Treasury Department imposed economic sanctions on Russia, including a ban on U.S. investors from buying any Russian securities. Major Wall Street banks withdrew from the Russian market in June in response to government policies.

Wall Street’s big banks have cautiously returned to Russian government and corporate debt markets after the U.S. Treasury Department in July allowed U.S. holders to reduce their holdings, according to sources including emails, customer records and other communications from six banks.

Banks that have restarted Russian bond trading include JPMorgan (JPM-US), Bank of America (BAC-US), Citigroup (C-US), Deutsche Bank, Barclays and Jefferies, the documents show.

Russia’s central bank slashed interest rates by 150 basis points last month to 8 percent, already below pre-war levels, in response to a stronger rouble and averting a potential recession. The central bank also said it was working with the government to set price benchmarks for many commodities, including crude oil, so that the West would not have the power to set prices.

Elvira Nabiullina, governor of the central bank, said the rate cut took into account the strength of the ruble, falling prices and slowing inflation expectations.

You may also like

Leave a Comment

Our Mission is to help you make better trading decisions by providing actionable investing content, comprehensive tools, educational resources and assist you in making more money in the stock market.

Latest News


Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

@2022 – All Right Reserved. Designed and Developed by WOOW Invest

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy