According to AdvisorHub, Senator Elizabeth Warren called out JPMorgan Chase & Co. and Goldman Sachs Group Inc. following a report that the two had been purchasing beaten-down bonds. Warren criticized banks for "undermining" sanctions against Russia by suggesting clients buy assets while they are cheap. Routinely, banks are known to buy up debt because clients request or expect to find buyers.
JP Morgan analysts published a note recommending that investors boost holdings of Russian-linked debt to take advantage of a "recovery play" branching from the selloff that has accompanied Russia's invasion of Ukraine.
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