This page has been archived and commenting is disabled.
Futures Soar, Near Record As Putin Speaks, Softens Russian Stance On Ukraine
Futures are soaring and are just shy of their record high first following news that the Russian military drill has ended, even if Russian troops stationed in the Crimea remain, but more importantly driven by a just completed press conference by Vladimir Putin in his residence outside of Moscow, in which the Russian leader appears to have softened his stance on Crimean aggression, saying he does not consider adding Crimea to its territory. What the market is focusing on is the repeat of Putin's stance that he will not be sending troops to the Crimea yet (even though they are there already), and that he suddenly appears concerned about the impact on markets and the fallout from sanctions.
The key highlights from the speech from Blooomberg.
- PUTIN SAYS UKRAINE SUFFERED COUP
- PUTIN SAYS UKRAINE GOVT OVERTHROW UNCONSTITUTIONAL, ARMED COUP
- PUTIN SAYS YANUKOVICH AGREED WITH OPPOSITION TO SURRENDER POWER
- PUTIN SAYS UKRAINE’S YANUKOVYCH DIDN’T GIVE ILLEGAL ORDER TO SHOOT
- PUTIN SAYS UKRAINE USED TO ONE SET OF CROOKS REPLACING ANOTHER
- PUTIN SAYS YANUKOVYCH IS UKRAINE'S LEGITIMATE PRESIDENT
- PUTIN SAYS YANUKOVYCH ASKED RUSSIA TO SEND TROOPS TO PROTECT PEOPLE
- PUTIN SAYS YANUKOVYCH HAS NO POLITICAL FUTURE
- PUTIN SAYS UKRAINE POLITICAL LIFE HAS BECOME FARCE
- PUTIN SAYS NO NEED TO SEND TROOPS TO UKRAINE YET
- PUTIN SAYS RUSSIA’S MILITARY EXERCISE HAD BEEN PLANNED LONG AGO
- PUTIN SAYS RUSSIA WOULD SEND TROOPS TO UKRAINE ONLY IN EXTREME CASE
- PUTIN SAYS NO BLOODSHED IN CRIMEA
- PUTIN SAYS RUSSIA TROOPS IN UKRAINE'S CRIMEA JUST REINFORCEMENT
- PUTIN SAYS MARKETS REACTED NERVOUSLY TO EVENTS DUE TO U.S. POLICY
- PUTIN SAYS POLITICS HAD "TACTICAL", TEMPORARY IMPACT ON MKTS
- PUTIN SAYS SANCTIONS AGAINST RUSSIA WOULD CAUSE MUTUAL DAMAGE
- PUTIN SAYS CRIMEAN ADMINISTRATION IS FULLY LEGITIMATE
- PUTIN SAYS RUSSIA NOT CONSIDERING ADDING CRIMEA TO RUSSIA
- PUTIN SAYS CRIMEA SELF-DEFENSE BLOCKED UKRAINE FORCES
- PUTIN SAYS WE DON’T PLAN TO FIGHT UKRAINIAN PEOPLE
- PUTIN SAYS DOESN’T WANT TO RECALL AMBASSADOR FROM U.S.
- PUTIN ORDERED RUSSIAN GOVT TO RENEW CONTACTS WITH UKRAINE GOVT
- PUTIN SAYS WEST ASKED RUSSIA NOT TO BUY MORE UKRAINE BONDS
- PUTIN SAYS NO IDEA WHO UKRAINE WILL ELECT AS PRESIDENT
- PUTIN SAYS AGREES W/ UKRAINE PROTESTERS' DEMAND FOR NEW LEADERS
- PUTIN SAYS MET YANUKOVYCH 2 DAYS AGO, SAYS HE'S ALIVE
On the oh so sensitive topic of Russian gas:
- PUTIN SAYS UKRAINE MAY OWE $2B FOR GAS AT END FEB.
- PUTIN SAYS GAZPROM CANCELLING UKRAINE GAS DISCOUNT OVER DEBT
Then
- RUSSIA'S LAVROV SAYS HOPES "OUR PARTNERS" WILL NOT IMPOSE SANCTIONS OVER UKRAINE AND WILL UNDERSTAND RUSSIAN POSITION
- RUSSIA'S LAVROV SAYS OUR MOVE IN CRIMEA WAS CORRECT, FORCES SEIZED ARMS AND EXPLOSIVES
So is this Putin offering an olive branch to the West and de-escalating Crimea, or just more smoke and mirrors for the media to consume even as Putin fully entrenches in the territory? Expect to find out shortly.
Finally, here is Reuters recap of events:
President Vladimir Putin said on Tuesday that Russia saw no need to use military force in the Crimea region of Ukraine for now, in remarks apparently intended to ease East-West tension over fears of war in the former Soviet republic.
The use of force by Russia in Ukraine would be a choice of last resort, Putin said, and sanctions being considered against Moscow by the West would be counter-productive.
Putin told a news conference at his state residence outside Moscow there had been an "unconstitutional coup" in Ukraine and ousted leader Viktor Yanukovich, an ally of Russia, was still the legitimate leader of the country despite giving up all power.
Earlier on Tuesday, Putin ordered troops involved in a military exercise in western Russia, close to the border with Ukraine, back to their bases.
Russian financial markets rebounded after sharp falls on Monday, and the euro and dollar rose in Japan, though Moscow's forces remained in control of Ukraine's Crimea region, seized bloodlessly after Yanukovich was ousted last month.
Russia paid a heavy financial price on Monday for its military intervention in Ukraine, with stocks, bonds and the rouble plunging as Putin's forces tightened their grip in Crimea, whose population is mainly ethnic Russian.
The Moscow stock market fell more than 10 percent on Monday, wiping nearly $60 billion off the value of Russian firms, but Russian stock indexes rose more than 4 percent early on Tuesday before slipping back again slightly, though still up on the day.
Putin said the turmoil in Russian markets was a "tactical, temporary" decision by investors.
U.S. Secretary of State John Kerry will propose ways for a negotiation between Russia and Ukraine to be overseen by a multilateral organisation when he visits Kiev on Tuesday.
NATO allies will hold emergency talks on the crisis on Tuesday, for the second time in three days.
GAZPROM PRICES
In further pressure on Kiev, Russia's top gas producer Gazprom said it would remove a discount on gas prices for Ukraine from April, Interfax news agency cited the company's chief as saying on Tuesday.
However, Gazprom chief Alexei Miller also said the company could offer Ukraine a loan of $2-3 billion to pay off the country's debt of more than $1.5 billion after Ukraine said it was unable to pay in full for gas deliveries in February, Interfax news agency said.
Putin said at the weekend that he had the right to invade Ukraine to protect Russian interests and citizens after Yanukovich's downfall following months of popular unrest. Russia's Black Sea Fleet has a base in Crimea.
But the military exercises in central and western Russia, which began last week and raised fears that Russia might send forces to Russian-speaking regions of east Ukraine, were completed on schedule.
"The supreme commander of the armed forces of the Russian Federation, Vladimir Putin, gave the order for the troops and units, taking part in the military exercises, to return to their bases," Kremlin spokesman Dmitry Peskov was quoted as saying by Russian news agencies.
Although the end of the exercises had been planned, the announcement sent a more conciliatory message than much of the rhetoric from Russian officials, who say Moscow must defend national interests and those of compatriots in Ukraine.
Putin is dismayed that the new leadership in Ukraine, the cradle of Russian civilisation, has plotted a course towards the European Union and away from what had been Moscow's sphere of influence during generations of Soviet Communist rule.
Moscow's U.N. envoy told a stormy meeting of the Security Council that Yanukovich had sent a letter to Putin requesting he use Russia's military to restore law and order in Ukraine.
Ukraine said observers from the Organization for Security and Cooperation in Europe, a pan-European security body, would travel at its invitation to Crimea in an attempt to defuse the military standoff there.
»
- 22783 reads
- Printer-friendly version
- Send to friend
- advertisements -
Putin, a goddamn American Hero. Fighting for democratically elected governments arount the world.
Uhmmm, pretty sure the futures "soared" hours before Putin Spoke.... Just sayin.
You are correct. Those that set the official market rates raised the futures after negotiating with Putin on his speech.
From TFA:
Appears to have softened his stance? That's a funny way to put it when that has been the Russian position all along. Why are the western powers afraid to commit to the February 21 agreement that they agreed to? Is it possibly the part that agrees to jointly investigate acts of violence?
Crimea has its own parliament (still) and makes its own decisions. Maybe the Crimean authorities' decision to hold a referendum (anyone remember democracy?) on greater autonomy and/or secession is what has the Leaders of the Free World® in such a tizzy. I guess we'll find out since the referendum, which had been scheduled for May 25th, has been moved up to March 30th.
...or is it Putin asking the West to please grow up?
That's as funny as a chipmunk in a sack of chestnuts. Which media are you talking about? The US media are only repeating the official story, as expected. How are the media going to consume anything from Putin after their gluttonous feeding at the Vichy DC trough?
Puck Futin
Putin has America were he wants them. The treat of War will kill their precious Stock Market. Hit America where it hurts most right in their pocket.
I think you forgot <sarc> here....
It were Russian stocks that tumbled, not American stocks.
Both markets will suffer, Russia had her's hit much harder in one day.
Putin forgot the reality of economics when he made his calculations to invade Crimea/Ukraine.
When he saw the economic hit the ruble took in one day a thought cloud appeared above his head and it said 'Shit - I don't want the USSR economics only it's territory' and with that he called General number 1 and said something like 'my ass is starting to hurt, you better pull back some.'
Putin blinked. Wow. Now Barry and the boys will walk around like kings.
Russian military, #Crimea earthquake hid by U.S.G.S., near ‘world’s oldest pyramid’ by #Sevastopolhttp://wtfrly.com/2014/03/04/russian-military-crimea-earthquake-hid-by-usgs-near-worlds-oldest-pyramid-by-sevastopol/
Report: Large Oil Refinery in #Tatarstan On Fire, Near Ukraine
http://wtfrly.com/2014/03/04/large-oil-refinery-tatarstan-on-fire/
RT: “Russian troops ordered home from surprise war games”
http://wtfrly.com/2014/03/03/rumor-ousted-ukraine-president-viktor-yanukovych-dead-heart-attack/
Rumor: Ousted Ukraine President Viktor Yanukovych dead of a heart attack
http://wtfrly.com/2014/03/03/rumor-ousted-ukraine-president-viktor-yanukovych-dead-heart-attack/
Reports of Russian Troops at North, East Ukraine Borders near#Chernigov, #Kharkiv, #Donetsk
http://wtfrly.com/2014/03/03/reports-russian-troops-north-east-ukraine-borders-near-chernigov-kharkiv-donetsk/
What do you expect, the market also goes up every time they claim Europe is fixed.
Fuck YOU Soros, your coup failed.
Because, you know, fuck the EU.
Putin already owns Crimea so he is simply calming the markets and letting events unfold.. West and new Ukraine government have already shown they will not do anything about it except for the gift of bank guarantees for $1 billion with so many caveats it is worthless... Ukraine now will suffer economic pain administered by mother Russia until it is on its knees until it begs for union with Russia. The fruit will ripen nicely and fall to the ground with little effort as all investors especially western just got inoculated for Ukraine and Russian risk... Risk off
Putin forgot the reality of economics when he made his calculations to invade Crimea/Ukraine.
When he saw the economic hit the ruble took in one day a thought cloud appeared above his head and it said 'Shit - I don't want the USSR economics only it's territory' and with that he called General number 1 and said something like 'my ass is starting to hurt, you better pull back some.'
Putin does not give a fuck about the stock market centric bullshit model the US refers to as "the economy".
But he does care about the rubles value, low ruble value equates to loss of power.
That is just fact and has nothing to do with someones political preference or your man-crush on Putin.
That is what happened to the USSR, no country wanted the ruble so it had little to no value.
Econ - 101 (now if only the US would understand that)
1% pullback on the news... then a 10% relief rally.
this was so fucking obvious, everyone knew this would happen.
yesterday the market did not even fucking sell off on this shit. 150 pt loss on a dow 16,200 is not a fucking sell off, its a big nothing.
s&p dropped 12 handles, which again is shit.
however, now the market makes it seem like it has been concerned about this all along and is showing some relief, when the reality is it never was fucking concerned about shit.
this is all part of there plan, make something into a bigger deal then it is, have a triple digit loss to pretend they care, but in reality triple digits at these levels means shit, and then ramp it up like the world just hit a golden age in the economy and set record highs.
Nothing in life is 100% certain....welll......we'll come backt to that, but you are right that a 3 digit under 500 xoff is not much to be concerned about, but it is enough to make gazillionaires out of billionaires who know what is going to happen aforehand.
It is a plan, and those who think it's not a conspiracy can think of it instead as a, "Coincidence of Interests".
He will keep Crimea in a puppet form. He was just securing the bases. The economics will come back and he will make more money on the nat gas as he keeps the best part of Ukraine and gets to gouge Europe for his gas. After articles like the ones in FT, he seems the stronger, but economics have an effect. I'm just glad it was bloodless. All things considered, it ended well....so far. NOW GET OUT THERE AND BUY THAT FUCKING DIP! I BET VLAD DID.
My take is it looks like Putin is still a big fan of paper. If he wants to make a real believer out of me than he'll start demanding gold from Europe for nat gas and oil.
agreed, I think some of his rich friends told him to pack it in.
I haven't given up on him yet, maybe he's waiting for a co-ordinated strike with China. I think he still has a little Sun Tzu up his sleeve.
Yeah the exercises on the Ukraine border were 'planned' long ago...for just this situation. Has the US military done exercises this large particularly with live ammo issued? 150,000 men is almost 20% of Russia's military. That's some exercise. Wish someone could have asked Putin if his military had ever before held such a large live fire training exercise and when that might have been?
The thug has won and the west thinks he captivated....... Morons and mancrushites....
"Captivated"?
Your thesaurus is broken.
(WASHINGTON) - As tensions between superpowers escalated over Russia's intervention in Ukraine, White House Press Secretary Jay Carney yesterday tried to calm the nerves of anxious Americans and world financial markets, assuring them that President Obama has the situation under control. "Americans should not be troubled. The President, as always, has been able to utilize his vast multi-tasking skills," Carney said to reporters. "Over the weekend he delegated his attendance at the morning NSA briefing to Joe Biden so he could break down game films from Wichita State, San Diego State, Creighton and New Mexico. He'll be ready for his annual NCAA March Madness "Barackatology" show broadcast on ESPN. He won't miss a beat." Carney noted that one important member of the Presidents advance scout team wasn't able to attend the film sessions. "Since Jason Collins signed a 10-day contract with the New Jersey Nets he wasn't able to be part of the Presidents War Room, but the President has reached out to others for advice. As Jason Collins reminded the President, two heads are always better than one, so we contacted Dennis Rodman, and he was happy to slide right in to Jason's spot. It was a natural fit. The President and Dennis were able to bone up on the subject matter and get right after it." And Carney was quick to fire a warning shot across the bow of the NCAA Tournament Selection Committee. "If the committee, which is largely made up of wealthy white males, thinks they can snub the University of Hawaii men's team, the President would like to remind them that he has a pen and a cell phone." "Barackatology" is scheduled to air on ESPN March 17th, a day after team selections are made. "The situation is under control. The President has his game face on. He's ready."
Russia will abandon the US dollar as a reserve currency if the United States initiates sanctions against the Russian Federation, Presidential advisor Sergey Glazyev told Ria Novosti news agency.
“We will be forced to go to another currency and create our own payment and settlement system. We have a fantastic trade and economic relationship with our partners in the east and south, and we’ll find a way to not only reset our financial dependence on the US, but come out from these sanctions with an advantage for ourselves,” he said.
“Efforts to declare sanctions against the Russian Federation will result in the collapse of the US financial system, which will entail the end of US dominance in the world financial system.”
That will only result in a USSR version 2 economy for Russia.
Other than neighboring communist countries the rest of the world will not have the confidence in the Ruble, even though the dollar stinks.
It is good to see that in the modern democracy that is the UK (kept afloat with Chinese and Russian money) that the interests of the Russian Mafia, and their need to launder their money into and through the London property market, takes precedence over the antiquated notion of the nation state.
The free flow of corrupt money is central to the entire global growth story.
Long may our leaders and intelligence services continue to turn a blind eye.
...modern"banking"in a NUTshell. Steal the money then park it.
I only know one thing: the market will fluctuate. Ergo, When it spikes, sell it; when it plummets, buy it.
And as Sam Kinnison would say, B UY !!! THE MOTHERRRRRRFUCKING DIP!!!!!!
These guys at the top know how to trade. With the "information" they create, and loading up of options and futures, they could make a King's ransom in one week, a month at the outside.
It's good to be king.
Remember: NOTHING in government or in your teenagers mind happens the way you think it does. You are the target of propaganda at every turn because you are only told what you want to believe that has a "Hope" coupon for you to clip every once in a while.
(sorry for those negative nabobs here that disagree, or don't particklerly care for the truth, but that's the reality and has been since Hank Paulson met with Lord blankfein and his former associates at Goldman Sucks and sold his soul to the Mephistopheles for the chance to be a multibillionaire himself by giving them a trilion dollars and the promise of more for abysmal failure).
Sanctions will begin on Thursday, time for Westerners to get their assets out of Russia and vice versa.
Since Putin is acting as a trading algo himself, i might add that one could buy gold, oil, yen, sell US treasuries into the "flight to safety", short the rubel and euro until Friday morning etc.
I told you all yesterday that, at least for now, this was probably just a 1 day event like all the other BS that we have fretted about that somehow gets smoothed over and the assholes press forward anyway. This should've been easily seen with a market that was only down 150pts yesterday.
What happens now is anyone's guess but you might wait till your computer screen goes black before going all short.
And what agencies did not cited of Putin's answers:
Actions of radical activists in Ukraine, including the chaining of a governor to a stage as public humiliation. During the siege of the Party of Regions HQ members of Maidan shooted at head a service engineer and burned alive another technician in a basement using Molotov coctails.
i totally disagree... this was PR for Russians, where Putin explained that he doesn't want to annex neither east Ukraine nor Crimea, but he would have to if there is any resistance (real or made up). See for example the denial of the presence of russian troops around ukrainian barracks, while at the same time we had live video of (unidentified) russian troops discussing with ukrainian officers. He just wants enough legal cover for what comes next.