Russia’s earlier “default” warning (or threat) has not just impacted Ukrainian bonds but the currency is crashing. The Hyrvnia is down a stunning 6.8% today – the biggest drop since Feb 2009 – to a record low 9.8 to the US Dollar. This crisis is far from over and we would expect capital controls in 3…2…1…
via Zero Hedge http://ift.tt/1cjUBYu Tyler Durden