The Russian Ruble has collapsed this morning to its weakest against the USDollar on record. The drop – similar in size to the drop when US and Europe unleashed Sanctions 3.0 – has sent USDRUB to 36.89. Russian stocks are down 2.2% this morning – biggest drop in 3 weeks – and Russian bonds are weaker (10Y +20bps back above 5%). We can’t help but think somewhere Shinzo Abe is getting ideas about how to really devalue his nation’s currency to competitiveness…
Ruble at record lows against Dollar…
Charts: Bloomberg
via Zero Hedge http://ift.tt/1mXxWXn Tyler Durden