LONDON— JPMorgan’s emerging market strategists said on Wednesday that new U.S. sanctions on Russian sovereign debt announced this week were likely to have limited implications for the international investors that already hold them.
They added that the new measures, which introduce restrictions on ’secondary market' trading of rouble and non-rouble-denominated debt issued after March 1, were unlikely to see bonds ejected from key debt indexes as the curbs did not apply to bonds already issued and in circulation.
