Global investors have been pouring money into the Russian stock market thanks to the country’s drive to curb inflation and conservative fiscal policy, rebounding commodity prices and the easing of US sanctions. Data shows that foreign ownership of Russian bonds has surged to a five-month high (rising above 20% for the first time since April) while measures of credit risk have eased back to pre-Covid levels. Analysts say that for investors who look for certainty, Russia has shown itself as a predictable environment with little risk of a sudden change or policy U-turns. “Markets like the technocratic orientation of the Russian government
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