[jennychase]

https://finance.yahoo.com/news/kremlin-rejects-russian-default-says-101824645.html

Russia, rejecting default, tells investors to go to western financial agents

The White House said on Monday that Russia has defaulted on its international bonds for the first time since the Bolshevik revolution, as sweeping sanctions have effectively cut the country off from the global financial system.

“Statements of a default are absolutely unjustified,” Kremlin spokesperson Dmitry Peskov told a call with reporters on Monday, pointing to the May forex coupon payment.

“The fact that Euroclear withheld this money and did not bring it to the recipients is not our problem. There are absolutely no grounds to call such situation a default.”

[jennychase]

https://finance.yahoo.com/m/09df5519-3eeb-3326-8419-c85602658613/citigroup-cuts-s-p-500-target.html

Citigroup cuts S&P 500 target to reflect blend of recession, ‘soft landing’ scenarios

[Rusty0604]

He’s right.