The US Department of Justice has announced criminal charges against former Cuban president Raúl Castro. The move, timed with the BBC’s presence in Havana, is largely symbolic. From a financial perspective, the indictment is unlikely to move markets.
Cuban debt, already trading at distressed levels, saw no immediate reaction. The real story is the lack of economic substance: Cuba’s isolation from global capital markets means this is noise, not news. Investors should focus on gilt yields and inflation data, not political theatre in the Caribbean.
