{"id":4159,"date":"2015-01-06T14:56:03","date_gmt":"2015-01-06T19:56:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=4159"},"modified":"2015-01-06T14:56:03","modified_gmt":"2015-01-06T19:56:03","slug":"russian-default-risk-surges-to-new-6-year-highs-as-ruble-rubble-returns","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=4159","title":{"rendered":"Russian Default Risk Surges To New 6-Year Highs As Ruble Rubble Returns"},"content":{"rendered":"<h4 class=\"title\"><a href=\"http:\/\/www.zerohedge.com\/news\/2015-01-06\/russian-default-risk-surges-new-6-year-highs-ruble-rubble-returns\" target=\"_blank\">Russian Default Risk Surges To New 6-Year Highs As Ruble Rubble Returns<\/a><\/h4>\n<p><em>Just when you thought it was all over&#8230;<\/em>\u00a0Having bounced post-CBR intervention and somewhat stabilized, the re-collapse in crude oil prices and continued weakness in Russian macro data provided just the impetus for a re-plunge in the\u00a0<strong>Ruble (back above 63.5\/USD)<\/strong>\u00a0and surge in\u00a0<strong>Russian bond yields (back to 14%)<\/strong>. While Russian stocks are also retesting towards recent lows, it is Russian CDS that is the most telling as it closed to day at\u00a0<strong>595bps &#8211; the widest since March 2009<\/strong>. While these violent gyrations are new for recent history, they are not a new phenomenon, but are\u00a0<strong>quite characteristic of the country\u2019s financial history<\/strong>.<\/p>\n<p>The Ruble and stocks are not quite back to recent lows&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150106_russ1.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150106_russ1_0.jpg\" alt=\"\" width=\"600\" height=\"630\" \/><\/a><\/p>\n<p>But Russian credit risk has hit new highs&#8230;<\/p>\n<p><a href=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150106_russ.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/www.zerohedge.com\/sites\/default\/files\/images\/user3303\/imageroot\/2015\/01\/20150106_russ_0.jpg\" alt=\"\" width=\"600\" height=\"317\" \/><\/a><\/p>\n<p><a href=\"http:\/\/rt.com\/business\/217003-russian-ruble-tumultuous-history\/\">However, as RT explains,\u00a0<\/a><strong>this is nothing new for Russia&#8230;<\/strong><\/p>\n<p>The dramatic fall of the Russian ruble made headlines in December. The violent gyrations in the ruble are not a new phenomenon, but are quite characteristic of the country\u2019s financial history.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Russian Default Risk Surges To New 6-Year Highs As Ruble Rubble Returns Just when you thought it was all over&#8230;\u00a0Having bounced post-CBR intervention and somewhat stabilized, the re-collapse in crude oil prices and continued weakness in Russian macro data provided just the impetus for a re-plunge in the\u00a0Ruble (back above 63.5\/USD)\u00a0and surge in\u00a0Russian bond yields [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[175,200,690,693,694,2454],"class_list":["post-4159","post","type-post","status-publish","format-standard","hentry","category-economics","tag-credit","tag-default","tag-risk","tag-ruble","tag-russia","tag-russian-stocks"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4159","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4159"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4159\/revisions"}],"predecessor-version":[{"id":4160,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/4159\/revisions\/4160"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4159"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4159"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4159"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}