Good news? In Russia, JP Morgan claims to have processed interest payments on two of the country’s sovereign issues, raising expectations of default on its debt for the first time since 1998. This has not prevented Standard & Poor’s from downgrading the country’s credit rating by one notch to CC, just two notches above default, in its belief that the country’s debt is “highly vulnerable to default”. In China, according to the Financial Times this morning, the government is prepared to give in to the SEC and provide accounting information on Chinese groups listed in the US, in the face of the threat of banning their listing on US markets.
Good News? Russia Has Paid
