Ukraine CDS Explode; Bonds, Stocks, & FX Tumble On Referendum Vote
While US equity markets could not be more excited at the prospect of more bloodshed, more sanctions, and more WWIII, it seems the Ukrainian markets are not amused. Short-dated CDS are spiking, bond yields surging, stock prices tumbling, and the Hyrvnia is back at one-month lows. Ukrainian stocks are now the worst-performing market in the world and with 10Y bond yields back over 10% (and 5Y near 14%), it seems the exuberance for risk in Western markets is not spilling out into a nation that is 'saved' by the IMF loans and western confidence.
CDS markets are not happy
and Bonds, stocks, and the currency are also in trouble...
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