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 continue to be a deterrent.
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