The Russian Market lost 5% in 2 days. Here's a link.
http://stock.rbc.ru/...tml?show=intra3
And here is a few words about crazy Russians in my daily comment.
Uh Oh.... Part II
Started by
youmast
, May 24 2007 03:31 AM
3 replies to this topic
#1
Posted 24 May 2007 - 03:31 AM
#2
Posted 24 May 2007 - 04:10 AM
I've got a call from my Russian banker 5 min ago. She said that VTB bank (the 2nd largest in Russia) is going to reduce the interest on CD accounts by more than 2% starting from June. My 1yr deposit at 10.75% will expire in August. The interest on 1yr CD will be only 8.5%. If I want to lock-in the higher %%, I can open another 2yrs CD at 10.35% this month, and put the money from the previous CD to the new CD in August. I sertainly will do that.
But... this is just another sample that liquidity is drying all over the world. Russian interest is at the lowest level ever (excluding Soviets). Such a big unexpected percentage drop could spell trouble ahead (IMHO).
P.S. Yes, VTB bank is 75% owned by Russian government. Everybody knows who seat in there - "very well informed people". Psss....
#3
Posted 24 May 2007 - 07:00 AM
Thanks Yuri. Always appreciate your insights and comments.
Please post more to keep us informed.
Dennis
#4
Posted 24 May 2007 - 10:24 PM
Interesting post, Yuri.
As always.
Glad you are OK.
I hear lot's of Russians are shooting themselves...in the back.
Or drinking "hot" tea.
Keep us posted.
"Nature's Failure to Function in a 'Predictable Way'... 500 years ago?"
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.
BIGGEST SCIENCE SCANDAL EVER...Official records systematically 'adjusted'.