Tuesday, February 22, 2022

Dash to safety

 Russian equities to a 5% drop, initially and fell further. The ruble too a dump. In the USA our equities look to drop two points, maybe less. Our dollar is likely up qir the ten year yield down only seven basis.

It seems to me that Putin and his inner circle are being hit the hardest, in round one. Russia is not liquid in the financial sense, the inner circle of oligarchs has few places to hide money except in the west at low FX prices. Like the USA, the Russian central bank as reset convertibility prices back to Feb, but these price controls will cause inflation and dissent among the peons, including soldiers. 

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