Russian bonds had rallied for 2 days on the heels of the ouster of Yanukovych and a hope-fueled strategy (supported by Goldman's buy-buy-buy recommendation) that Europe or the IMF would save the day and fund them back to solvency. However, Russian deputy finance minister Storchak has a different perspective...
- *UKRAINE FACES HIGH PROBABILITY OF DEFAULT: RUSSIA'S STORCHAK
- *RUSSIA AGAINST INCLUDING $3B UKRAINE DEBT IN ANY RESTRUCTURING
- *RUSSIA: NO LEGAL OBLIGATION TO GIVE UKRAINE REMAINING BAILOUT
And that has sent 3-month Ukraine bond prices tumbling once again...
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