Russia remains one of our preferred country shorts on Oil Deflation. We shorted it last Thursday in Real-Time Alerts. Russian equities are in full-blown crash mode now down -22% year-to-date.
Our macro team is doing a lot of work right now on whether or not Japan and Europe opting to devalue will ultimately result in eventual Russian economic collapse.
It’s an important question to ask as oil trades below $80, and Vladimir Putin’s Russian budget is reportedly based on oil trading at $100.
