Russian bonds are once again attracting investors. Prices have
rebounded strongly over the past 12 months and yields have fallen
from historical highs following the financial crash of 1998.
Though Russian equities are cheap compared with fundamentals and
trade at a massive discount simply for being Russian, interest in
them is still limited. For those bullish on Russia they may offer
outstandingly good value, but for the more conservative, perceived
political risks, a stifling and sometimes-corrupt business
environment and a volatile market...
