‘‘This is the year of the bond,” enthuses Alexander Kotcherguine, the head of international business development at MDM bank. A pioneer of Russian debt instruments, the ebullient Mr Kotcherguine believes that Russia’s expanding rouble bond market is coming of age.
Investors into Russia’s young capital markets have become accustomed to stellar returns (and occasional horrific losses) since 1991 but a combination of political stability, strong economic growth and bare-knuckled competition mean that triple-digit returns are passed, says Mr Kotcherguine.
