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"Lost In Translation" Error Sends Belarus Bonds Plunging
Yields on Belarussian bonds exploded from 12% to 25% in the space of a few minutes this morning following reports that President Alexandr Lukashenko raised the prospect of restructuring the former Soviet republic’s external debt. As Bloomberg reports, the 2018 bonds collapsed from over 90c to 65c even as Lukashenko said Russian President Vladimir Putin was prepared to provide $500 million of aid if the situation gets “very difficult.” However, two hours later - following the collapse in bonds - Lukashenko clarified his remarks... "Please calm down," he said, "Belarus has enough money to pay its debts in full." It turns out he meant refinance... not restructure.
Belarussian bonds...
“The likelihood of the actual bond restructuring is quite high as it could be one of the conditions for any future Russian support,” Vladimir Osakovskiy, an analyst at Bank of America Corp. in Moscow, said by e-mail.
“There is strong political incentive to continue to repay external debt in order to keep alternative, other-than-Russia refinancing options open.”
The slow response...
As Bloomberg reports, Belarus Leader Says He Meant ‘Refinance’ Not ‘Restructure’ Debt
“Please calm down,” Belarusian President Alexandr Lukashenko says during annual news conference in Minsk, addressing bondholders.
Belarus has enough money to pay its debts in full
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Please calm down. This is bullish.
She said just the tip, but he misunderstood...
haha she did.
With the USD skyrocketing, the GAS price which have been plummeting, SEE HERE => http://bit.ly/1B4K0wk
It seems like each time I fill up, the price has crashes some more. I have never seen this, and the stock market is all over the place.
What is happening people. Some huge manipulations going on the last 3 months, {well ok, as in FOREVER}
Whenever I talk about refinancing my house, my bonds go to hell as well..
Anyone up for a friendly game of Dominoes?
Lukashenko owes all his financial and political accumen to the careful tutelage of Vladimir Putin, Mr. Lukashenko's idol.
How many Zero Hedgers are leaving America's shores for idyllic Belarus in 2015?
C'mon now, don't be shy!
Armchair cowboys, all of them.
All Hat and no cattle.
Oh look, another new troll who only comments on Russia. Did Langley run out of real names for its shill accounts?
The farce is strong today. lol
Reduced to random alphanumeric strings... how fucking sad.
The Poles recognize what Ukraine and Georgia have already come to understand: that Russia is trying to cobble together what it can of the failed Soviet state. It was Vladimir Putin, after all, that wistfully remarked that "the greatest catastrophe of the 20th century was the breakup of the Soviet Union."
In other words, the greatest catastrophe of the 20th century wasn't the 60 million lives lost during WWII, nor was it the tens of millions that died during the Spanish influenza pandemic in the early part of the 20th century.
Rather, the 'catastrophe' was that 300 million folks were liberated from a totalitarian regime and a command economy that together were responsible for untold human misery.
Putin's self-centered, myopic assessment would be laughable if it didn't negatively impact so many lives.
Vlad, we’re going to make you pay a heavy price for stealing Ukraine. Your ruble will be worth virtually nothing, your economy will be trashed and your currency reserves eviscerated.
I guess the Russians all "fell over" and died when the Germans invaded during that 1941-45 skirmish?
"Vlad, we’re going to make you pay ....."
You of course mean before our WS Banksters and their local replacement lackie team try to come in and take everything for cents on the dollar...
Right?
Oops. Wars have started over less.
Wonder who bought in at 65?
Much less. I think Putin has been extremely "well behaved".
If they were smart and aggressive, they would have front-run their own "correction announcement" and started "refinancing" early.
Stick that semantics in your pipe and smoke it bitchez.
Nice goin' guy! It will be really easy to refinance now that your misstatement (or was it a Freudian slip?) has kicked interest rates up by 6 percentage points.
Kinda funny how quickly a bond asset turns into an unfunded liability.
Depends on what side of the tellers window you're on.
I said it before and I'll say it again:
Belarus is a prime target and headed for Maidan II. Feels like 1938.