Date: 5 months ago   Category: Economy

Sanctions of the USA against Russia can do much harm to emerging markets - Bloomberg


If sanctions of the USA turn Russia from "harbor" into the outsider, the new surge in turbulence can threaten emerging markets, investors and analysts expect.

the Russian officials at a forum in Moscow noted strong indicators of the budget, and the head of the Central Bank Elvira Nabiullina has made in the International Monetary Fund in Washington the report on successful experience of the regulator on overcoming last crises.

meanwhile the state bonds and ruble have punched minima more than two years.

of Investors frightened the events in the Senate of the USA where legislators discussed new sanctions against Russia.

call One of the initiatives offered to consideration "the infernal bill", partly because she provides the ban on purchase of a new public debt.

"Considering a situation, close to crisis, in emerging markets, imposition of sanctions against the only market where before recent time investors could find a shelter, will cause risk of extensive chain reaction", - Elina Rybakova, the research associate of the research center Bruegel in Brussels says.

Will lock to the American investors to buy new Russian bonds won't have significant effect on ability of the Russian Federation to finance the needs as the budget is executed with surplus, and the Central Bank has enough means if necessary to give support.

But Rybakov and others disturbs how loss of the protective status by Russia can affect confidence to emerging markets which was undermined.

"A situation not really pleasant for portfolio managers because there is no place to run especially when you have a mandate on emerging markets", - the economist of FG "BKS" Vladimir Tikhomirov has told.

is Still not clear whether the interparty bill forbidding to Americans purchase of a new Russian national debt will be adopted.

However with approach of intermediate elections in the USA threat of toughening of sanctions for alleged intervention of the Russian Federation in electoral process has amplified, and it has forced investors to reconsider one of their favourite positions "above the market" in local currencies.

For the first two months of this year local bonds of the Russian Federation have provided to investors the second-large profit in emerging markets. they have yielded to

After an April round of sanctions a loss at the level of 22 percent that became the weakest result after Argentina, Turkey and the Republic of South Africa.

the Yield on 10-year federal loan bonds has grown by a half of percentage point last week, or is the sharpest since drop in oil prices in 2016.

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