VTB down 18 pct, Sverbank down 17 pct, Gazprom down 14 pct in large Russian equity sell-offs.
Russia’s EMBIG spreads widening by 20 bps over Treasuries to 264 bps now
Unsurprisingly… Ukraine’s benchmark stocks down nearly 10 pct today
UBS Wealth Management puts 50 percent chance for Ukraine debt to either get restructured (40%) or default (10%)
LONDON, Feb 28 (Reuters) – Investors are marking Russia and
Nigeria, where current account surpluses and reserves are slowly
eroding, as the next likely victim of the rolling emerging
market crisis, as well as a “double deficit club” of economies.
Rather than looking simply at a country’s external reliance
on capital – which prompted investors to shun the “Fragile Five”
including India and Indonesia last year – markets are likely to
target commodity exporters next.
LONDON (Reuters) – The world’s top investors cut exposure to emerging European equities to a five-month low in February as they fretted over a spillover from tensions in Ukraine and Russia, Reuters polls showed on Friday.
Concerns over China’s economic slowdown also prompted fund managers to trim their Asian equity holdings to a four-year low and instead boost euro zone equity weightings to the highest since June 2011.