Europe/Russian Stocks Surge Most In 6 Weeks On US/EU Sanctions

As the US and EU press forward with sanctions - proclaiming them as the first step in punishing economic actions - the world's stock markets could not be happier. European stocks are up over 1% - their best day in 6 weeks; Germany - notably hard-hit on the basis of its gas-dependence - is surging by the 2nd most this year as Italian stocks rally a ridiculous 2.4% (its 2nd best day in 7 months). Everyone loves a good short-squeeze on war escalation but we suspect the surge in Russian stocks - up 8.5% from Friday lows -  (and the Ruble) will be disappointing more than a few of the world's great thinkers in Washington and Brussels.

European Stocks surge...


Led by a huge short squeeze as sanctions were announced (led by Italian stocks of course!!)


But - Russian stocks are roaring - up 8.6% from Friday's lows... not exactly what the politicians were hoping for...


This is the biggest 2-day swing in 18 months for Russian stocks - imagine how much higher it will go when the US reallt gets going on sanctions.


Charts: Bloomberg