The rouble may have found its feet after yesterday's post-S&P
rating downgrade crash, but Russia's financial markets are taking a
walloping.
Russia's local and international benchmark bond yields have shot up to 14.55 per cent and 7 per cent respectively, and the dollar-based RTS equity index is down another 2 per cent this morning.
Russian corporate bonds are also getting clobbered, on concerns that more downgrades to a junk credit rating from the other two major agencies will push these companies into non-investment grade territory too, which would lead to them falling out of indices.
Read more to Click here / www.trade4x.net
Russia's local and international benchmark bond yields have shot up to 14.55 per cent and 7 per cent respectively, and the dollar-based RTS equity index is down another 2 per cent this morning.
Russian corporate bonds are also getting clobbered, on concerns that more downgrades to a junk credit rating from the other two major agencies will push these companies into non-investment grade territory too, which would lead to them falling out of indices.
Read more to Click here / www.trade4x.net
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