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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessCDS Panel to Mull Queries on Possible Russian Default
- Bloomberg reports that a CDS panel is to mull a query on a possible Russian default, concerning the payment of interest during the grace period.
- Those headlines following the continued will-they-won't-they of Russian default. Siluanov yesterday stated that Russia will continue to meet their foreign debt obligations, but will look to settle the payments in RUB.
- The comments followed the expiration of the US license that allowed Russia to settle payments in USD. This expired yesterday (known as General Licence 9A).- First real crunch date occurs on June 24th, when a $159mln USD payment is due. If no USD are received the bond will technically enter a 30-day grace period before formally defaulting.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.