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re: Update pg 23: Russia,IMO, will default on its sovereign debt within six months
Posted on 12/16/14 at 8:56 am to LSURussian
Posted on 12/16/14 at 8:56 am to LSURussian
quote:
The ruble plunged as much as 19 percent to 80.10, before trading at 72.99 by 5:12 p.m. in Moscow, amid speculation Russia will resort to capital controls after a 650 basis-point increase in borrowing costs to an 11-year high proved ineffective.
The Russian government called a meeting to discuss the financial crisis engulfing the country following the currency’s biggest drop since 1998, the year Russia defaulted on local debt.
LINK
3
Posted on 12/16/14 at 8:57 am to LSURussian
Is this in any way bad for us?
Posted on 12/16/14 at 9:10 am to LSURussian
Looking bad for Vlad. If I were living in an apartment highrise in Moscow now, I would be checking the basement for explosives every hour...
Posted on 12/16/14 at 9:13 am to LSURussian
This has been fricking insane this morning. 650bp hike in rates completely backfired and the ruble was down as much as 19%. 
The schism between Putin and the central bank will have to be handled otherwise Russia could spiral down to 1998 areas.
I wish I could post a picture of the USD/RUB volatility surface from my Bloomberg.
The schism between Putin and the central bank will have to be handled otherwise Russia could spiral down to 1998 areas. I wish I could post a picture of the USD/RUB volatility surface from my Bloomberg.
This post was edited on 12/16/14 at 9:20 am
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