What the Russian Revolution Can Teach Us About Bond Bubbles
What the Russian Revolution Can Teach Us About Bond Bubbles
(Bloomberg) --
Every week, hosts Joe Weisenthal and Tracy Alloway take you on a not-so-random walk through hot topics in markets, finance and economics.
When talking government bond defaults, plenty of people think of Argentina and Greece. But the biggest sovereign debt default of all time was arguably Russia’s repudiation of debt in 1918, after the Bolshevik revolution. In this episode, we speak to Hassan Malik, an emerging markets analyst and author of ‘Bankers and Bolsheviks,’ about how the Russian debt bubble developed and then crashed. He explains why Western investors thought Russian debt was a safe bet right up until the eve of the Soviet debt repudiation.
To contact the editor responsible for this story: Topher Forhecz at tforhecz@bloomberg.net, Laura Carlson
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