The Ruble just hit 54/USD – its weakest since early April – as IFX reports a “large-scale” rebel offensive in eastern Ukraine involving 10 tanks and around 1000 troops. Ukraine’s military has redeployed troops to halt this rebel offensive and has informed its international partners on the re-deployment which leaves The Minsk Accord hanging by a thread. Ironically Ukraine bonds had earlier jumped to 3-month highs on optimism surrounding restructuring that haircuts would not be as severe, but the reignition of tensions in the country have taken the shine of that exuberance.
*MICEX EXTENDS LOSSES, DROPS 1.2% AFTER IFX REPORT ON UKRAINE *RUBLE SINKS 2.2% AFTER IFX REPORT OF REBEL OFFENSIVE IN UKRAINE
This post was published at Zero Hedge on 06/03/2015.
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