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Strategies & Market Trends : Waiting for the big Kahuna

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To: Oeconomicus who wrote (24168)	8/13/1998 9:56:00 AM
From: Gary R. Owens	Read Replies (1) of 94695

Russian debt yield 190%?! 8/13 Russian Currency Controls Send Stocks Plunging, Drive Bond Yields Higher Excerpt: Russia's RTS stock index plunged to 27-month lows and debt yields soared to 190 percent as central bank efforts to shore up the ruble backfired, renewing concern a devaluation is imminent. A ruble devaluation could lead to a collapse of the banking system and spark social unrest, analysts said. Russia continues to dip into its $17 billion in dwindling foreign exchange reserves to meet more than $23 billion in debt payments this year, including more than $1 billion a week. bloomberg.com

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