Purity of race does not exist. Europe is a continent of energetic mongrels. - H.A.L. Fisher

Visit A Fistful of Euros

Russia s Crisis Spreads Right Across The Domestic Credit Market

Posted on October 03, 2008

Well the action in Russia this week has moved on slightly, and the damage has started to spread from pressure on the domestic stock market (accompanied by capital flight) to the real economy - via a very rapid tightening in credit conditions for Russian domestic users. We are also seeing a rapid slowdown in Russian manufacturing industry as internal demand slows while the inflation-driven decline in cost competitiveness continues to make imported products (where available) an attractive alternative to the home produced variant.Emerging-market bonds have been generally falling this week as the ...

Original article link


bonds , central bank , crude , currencies , economy , foreign exchange , forex , gdp , housing , inflation , interest rates , oil , output , purchasing managers , real estate