Russian debt defaults are surging, with a quarter of the bond market at risk, while Putin hides in bunkers fixated on his war instead of the economy

Sat, 09 May 2026 19:33:21 +0000

Originally published by Fortune

The Russian economy is now shrinking, and businesses are having more trouble keeping up with debt payments, representing a potentially systemic threat to the country’s bond market.

According to data from the central bank this week, GDP contracted 0.5% year over year in the first quarter, far below projections for 1.6% growth, due in part to an increase in the value-added tax the Kremlin imposed to pay for its war on Ukraine.

Global Markets Rally as Trade Talks Resume

Sat, 09 May 2026 00:00:00 +0000

Major stock indices around the world surged on Friday after officials from key economies confirmed a fresh round of high-level trade negotiations, easing fears of prolonged economic friction that had weighed on investor sentiment for weeks.

The S&P 500 climbed 1.8% in early trading, while the Nasdaq Composite added 2.1%, led by gains in semiconductor and technology stocks that had been particularly sensitive to tariff uncertainty. European markets followed suit, with the STOXX 600 index rising 1.4% and Germany’s DAX up nearly 1.7%.

Economy on Cowlpane

Russian debt defaults are surging, with a quarter of the bond market at risk, while Putin hides in bunkers fixated on his war instead of the economy

Global Markets Rally as Trade Talks Resume