US-based emerging markets investors will have a tough choice to make in November as the date of one of Russia’s biggest capital markets conferences has been set to clash with Thanksgiving.
It seems that Russia's state-owned, VTB Capital, the investment banking sister arm of the US-sanctioned VTB Bank, sees no point in hoping anyone from the US shows up. It has set its big Moscow shindig for the same day as most Americans are loading up on roast turkey and candied yams.
The threat of further US sanctions looms over Russian borrowers and the scheduling of the event might suggest that VTB Capital is keen to tell those in Washington, DC that they can do perfectly well without US money.
Either way, the event is now only likely to attract bond marketeers who hate a turkey, which in one sense at least, is all of them.