The Russian Ruble has collapsed this morning. Despite a modest dead-cat-bounce-like rally in crude oil, the Ruble is down almost 3 handles smashing through the 61/USD level for the first time ever. Minutes after flash-crashing to 61.46/USD, officials, according to Reuters, halted trading in certain instruments to “prevent possible manipulation of equity futures market.” Russia’s 5Y CDS has broken above 500bps for the first time since 2009 (+21bps today), the RTS stock market is down over 6%, and 5Y bond yields are pushing towards 13%. It seems Putin is increasingly being put under pressure to do something…
- RUSSIAN CENTRAL BANK SAYS ORDER TO MOSCOW EXCHANGE TO HALT TRADING IN CERTAIN INSTRUMENTS TO PREVENT MANIPULATION OF EQUITY FUTURES MARKET
RTS is collapsing
The Ruble is crashing…
Then what apopeared to be intervention occurred…
Confirmed – BANK OF RUSSIA MAY HAVE SOLD $350M TO BOLSTER RUB: BCS’ SAENZ
And default risk is spiking
Charts: Bloomberg
via Zero Hedge http://ift.tt/1vRBHQS Tyler Durden