On the scale of ‘unpatriotic’ things to suggest, there is only one thing worse than a tax inversion for an American to do… suggest something positive about Russia, Russian markets, or Russia’s economy. So it perhaps ultimately ironic that none other than Goldman “doing God’s work” Sachs suggests Russian bonds are both cyclically and strucuturally under-priced.
Via Goldman Sachs,
Russia bonds are both cyclically and structurally underpriced