It seems the US “costs” are not working on Russian assets. Apparently on the back of diplomatic-sounding comments from Putin, Russian stocks, bonds and currency are the new fear-of-missing-out trade and are soaring:
- *GAZPROM +7.3%, MOST SINCE MARCH 4; ROSNEFT +4.6%, MOST SINCE SEPT 2013; SBERBANK +10% MOST SINCE NOV. 2011
- *RUBLE EXTENDS ADVANCE VS BASKET, STRENGTHENS 1.1% TO 41.2082
- *RUSSIA’S 2027 OFZ BOND EXTENDS GAINS, YLD DROPS 28BPS TO 9.19%
Unfortunately US equities are not so exuberant…
Russian stocks are soaring…
And the Ruble is strengthening…
As Bonds are bid once again…
And US equities are in free fall…
“Costs”
via Zero Hedge http://ift.tt/1mCqEJ6 Tyler Durden