Russia gears up for new era for rouble bonds

The rouble domestic bond market has been eyed by international investors over the last decade with a mixture of curiosity, eagerness and fear. Investors like the super-high yields on offer and the variety of credits, but are apprehensive about the rule of law in Russia and the documentation provided in such deals. Some are also concerned about the volatility of the Russian rouble, which is closely linked to the price of oil. Most of all though, investors have been held back by its inaccessibility.