S&P Cuts Russia To Junk, Ruble Plunges To 6-Week Lows…(Currency Wars Lead To Shooting Wars!)
by Tyler Durden
ZeroHedge.com
01/26/2015
With the Ruble having plunged 3 handles today alone, it appears perhaps more than a few could see this coming…
*RUSSIAN FEDERATION RATINGS CUT TO JUNK BY S&P (TO BB+ FROM BBB- BY S&P; OUTLOOK NEG)
Putting it below investment grade for the first time in a decade. Of course, one can’t help but wonder if the timing of the Russian ‘junking’ is mere coincidence with the $1.5bn settlement with the US DoJ over downgrading America. This comes on a day when The Russia Agriculcural Bank failed to sell 10Y bonds into the market. Russian stocks (ADRs) and the Ruble continue to slide on this news…
The Rest…HERE