This is prob all factored in already. I do wonder how much China owns in Russian government bonds?
I thinking the economic MAD version is US defaults on all our bonds for US debt ($23T) that have been bought up by China. Japan owns about 17% of US debt, China 14%, UK 8%, Ireland & Luxembourg both at 4% (WTF?)
Who Owns US Debt? Top 5 Countries and How Much They Hold
Debt deadline and central bank hikes loom in Russia | Reuters
Quote:
Wednesday could mark another low. The government is due to pay $117 million on two of its dollar-denominated bonds. But it has been signalling it will not, or if its does it will be in roubles, tantamount to a default. read more
Technically it has a 30-day grace period, but that is a minor point. If it happens it would represent its first international default since the Bolshevik revolution over a century ago.
"Default is quite imminent," said Roberto Sifon a top analyst at S&P Global which has just hit Russia with the world's biggest ever sovereign credit rating downgrade. read more
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