JPMorgan Analysts Tout Russian Company Debt ‘Recovery Play’

[https://www.bloomberg.com/news/articles/2022-03-04/jpmorgan-touts-distressed-russian-company-debt-recovery-play](https://www.bloomberg.com/news/articles/2022-03-04/jpmorgan-touts-distressed-russian-company-debt-recovery-play)

Strategists at JPMorgan Chase & Co are recommending clients boost positions in some Russia-linked corporate debt, even as the U.S. and allies tighten sanctions to restrict investments in some of the country’s assets.

Strategists in the bank’s research team led by Zafar Nazim upgraded debt of Russian companies including oil and gas giant [Lukoil PJSC](https://www.bloomberg.com/quote/LKOD:LI) and steel producers [Novolipetsk Steel](https://www.bloomberg.com/quote/NLMK:RM) and [Magnitogorsk Iron & Steel Works](https://www.bloomberg.com/quote/MMK:LI) to overweight in a note sent to clients on Friday.

—they are still doing this — seems like they need some protesters surrounding their offices

edit:

Bill Browder‘s tweet

I’ve been getting a lot of calls from my old acquaintances in the hedge fund industry asking if they should buy bombed out Russian equities and bonds. My answer: it’s like asking if you should buy German equities during the Holocaust. Have some decency

[https://twitter.com/Billbrowder/status/1500449945060585474](https://twitter.com/Billbrowder/status/1500449945060585474)

Browder is an anti-Putin American businessman. His Russian lawyer was murdered by Putin (will post source info later —it’s in Wikipedia). If you have heard about the Magnitsky Act that resulted from the murder.

[https://en.wikipedia.org/wiki/Magnitsky\_Act](https://en.wikipedia.org/wiki/Magnitsky_Act)