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SPDR S&P Russia ETF (RBL)

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  • Thu, May 7, 9:19 AM
    • "It is probably fair to say that we are known in the market for being bullish China -- some might say permabulls -- so for us this is a big call," says the team at Morgan Stanley, cutting Chinese stocks to Equalweight after having them at Overweight for 7.5 years.
    • "Dramatic recent outperformance has led to a deterioration in absolute and relative valuations and a technically overbought situation," they say, noting there's been little improvement in the underlying economy and earnings revisions have disappointed.
    • Alongside that move, the team downgrades Russia to Underweight, while lifting Taiwan to Overweight.
    • ETFs: FXI, ASHR, CAF, YINN, PGJ, GXC, FXP, YANG, PEK, MCHI, XPP, YAO, YXI, CN, CHXF, FCA, CHNA, KBA, AFTYRSX, RUSL, RUSS, EWT, ERUS, RSXJ, RBL, FTW, QTWN
    | Comment!
  • Mon, May 4, 3:28 AM
    | 5 Comments
  • Thu, Apr. 30, 10:40 AM
    • Responding to a rallying ruble, Russia's central bank cut interest rates for the third time this year - lowering its benchmark rate a full 150 basis points to 12.5% (vs. 100 bps expected). Rates had risen to as high as 17% near the end of last year.
    • Giving the bank room to ease is the strength in the ruble - up 18% this year vs. the dollar after shedding almost half its value in 2014.
    • RSX -0.6%
    • Source: Bloomberg
    • ETFs: RSX, RUSL, RUSS, ERUS, RSXJ, RBL
    | Comment!
  • Tue, Apr. 21, 6:47 AM
    • Russia's economy contracted about 2% last quarter on an annual basis, Prime Minister Dmitry Medvedev announced on Tuesday, blaming the slump on a plunge in oil prices, the ruble and sanctions imposed over Ukraine.
    • "Today we face not only short-term crisis effects: if external pressure increases while oil prices remain at an extremely low level...we’ll have to develop in a different economic reality," Medvedev said. The downturn was "most acute" at end-2014 and the start of this year, but the situation is now "stabilizing."
    • The decline in gross domestic product is the first since a contraction in 2009.
    • ETFs: RSX, RUSL, RUSS, ERUS, RSXJ, RBL
    | 1 Comment
  • Wed, Apr. 1, 6:17 AM
    • Russia's economy will continue on its downward trajectory for the next five years, warned the country's former finance minister at a round table discussion on Tuesday.
    • "Structural reforms were not done in time. This is the most serious challenge facing the president — a stagnating economy at least for the next five years," said Alexei Kudrin, according to a report from Russian business news agency, RBC.
    • "From 2012 to 2018 economic growth will be 1.5% (per year), in the best case - 2%," he added.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 13 Comments
  • Tue, Mar. 24, 10:43 AM
    • Greece has been "mishandled" from the beginning by all parties, George Soros tells Bloomberg. "It's now a lose-lose game," with muddling through the best possible outcome, and a Greek exit from EMU very much on the table.
    • Most concerning to Soros is the Russian-backed war in eastern Ukraine. The West, he says, needs to move on from sanctions on Russia - which only feeds into Putin's narrative - and instead provide more support for Ukraine.
    • ETFs: RSX, GREK, RUSL, RUSS, RSXJ, ERUS, RBL
    | 10 Comments
  • Fri, Mar. 20, 4:01 AM
    • Greek Prime Minister Alexis Tsipras agreed to speed up his economic reform plans at late-night crisis talks in Brussels, while a joint statement by the EU creditors following the meeting spoke of a "spirit of mutual trust."
    • Also at the summit: EU leaders decided to keep sanctions on Russia in place until the end of this year at the earliest, linking them to the "complete implementation" of a Ukraine ceasefire deal.
    • ETFs: RSX, GREK, RUSL, RUSS, RSXJ, ERUS, RBL
    | 4 Comments
  • Fri, Mar. 13, 7:03 AM
    • Russia cut its main interest rate once again today, slashing its key rate by 1 percentage point to 14%. It comes after the rate was lowered to 15% from 17% at the end of January.
    • Russia's broader economy has been hard hit by economic sanctions following its annexation of Crimea and its role in the Ukraine crisis, as well as a sharp decline in global oil prices.
    • Over the last 12 months, the ruble has weakened close to 70% against the dollar, and inflation came in at 16.7% in February, posing further troubles for the country.
    • ETFs: RUSS, RSXJ, ERUS, RBL, RSX -0.4%, RUSL -0.8% premarket
    | 1 Comment
  • Sun, Feb. 22, 7:19 AM
    • Nearly a week after a ceasefire was supposed to have gone into effect in Ukraine, Secretary of State John Kerry said on Saturday that he and his British counterpart, Philip Hammond, would discuss additional sanctions in response to Russia’s "brazen" violations of the agreement.
    • "We know to a certainty what Russia has been providing to the separatists," announced Kerry. "We’re not going to sit there and be part of this kind of extraordinarily craven behavior at the expense of the sovereignty and integrity of a nation."
    • Russia’s credit rating was cut to below investment grade by Moody’s Investors Service on Friday, joining Standard & Poor’s in ranking the country’s debt as junk.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 109 Comments
  • Fri, Feb. 20, 4:48 PM
    • A month after downgrading Russia's debt rating to the brink of junk status (Baa3), Moody's has taken things a step further and downgraded to Ba1, with a negative outlook. The ratings agency notes Russia is "expected to experience a deep recession in 2015 and a continued contraction in 2016."
    • S&P downgraded Russia to junk on Jan. 26. Fitch downgraded to the brink of junk on Jan. 9.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 4 Comments
  • Wed, Feb. 18, 4:46 AM
    • The U.S. has directly accused Russia of violating the ceasefire in Ukraine, amid reports that some Ukrainian troops are pulling out of the strategic rail hub of Debaltseve.
    • Separatist forces fought their way into the key railway junction on Tuesday despite a ceasefire which came into effect earlier this week.
    • Strongly condemning the violence, Joe Biden warned the "costs to Russia will rise" if it "continues to violate the Minsk agreements."
    • Yesterday, Ukraine posted a fall in GDP of 15.2% Y/Y in the fourth-quarter.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 7 Comments
  • Mon, Feb. 16, 4:52 AM
    • The EU has placed more Ukrainian and Russian people and organizations under sanctions today, accusing them of "undermining or threatening" Ukraine's independence.
    • The move comes just days after a new cease-fire agreement was announced in Minsk, although several reports have surfaced that some of the rebels have not observed the truce.
    • Russian share indexes opened lower this morning. The MICEX is now down by 1.9%, while the dollar-based RTS is down 0.8%.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 4 Comments
  • Thu, Feb. 12, 5:45 AM
    • A ceasefire between Russia and Ukraine has been agreed starting February 15, said Vladimir Putin in Minsk, as a 17 hour, four-way meeting between Russia, Ukraine, France and Germany concluded.
    • The new deal revived a failed September ceasefire agreement, with commitments from each side to pull back heavy weapons, as well as greater autonomy for separatist regions in eastern Ukraine.
    • The ruble gained about 1% against the dollar following the news; the RTS index is up 4.7%.
    • Previously: 'No good news yet' from Ukraine meeting (Feb. 12 2015)
    • ETFs: RSXJ, ERUS, RBL, RUSL +6.8%, RUSS -3.5%, RSX +2.7% premarket
    | 32 Comments
  • Thu, Feb. 12, 4:01 AM
    • Russia has presented "unacceptable" conditions, and there has been "no good news yet," said Ukrainian President Petro Poroshenko as world leaders meet in Minsk to settle on an agreement to keep Ukraine from falling apart.
    • The four-way meeting, also being attended by the heads of France and Germany, began late on Wednesday and continued into Thursday morning.
    • Meanwhile, International Monetary Fund chief Christine Lagarde has announced that Ukraine will receive about $40B in funding over the next four years, with nearly half of the funding coming from the IMF.
    • RSX, RUSL, RSXJ, ERUS, RBL, RUSS -1.9% premarket
    | Comment!
  • Mon, Feb. 9, 3:36 AM
    • As the conflict in the region escalates, Germany's Angela Merkel has given Russian President Vladimir Putin until Wednesday to agree to a road map to end the fighting in eastern Ukraine, when they will meet in Belarus to finalize a deal.
    • The West is now debating whether to add sanctions, including broader asset freezes, or a combination of sanctions and arms transfers, should the diplomacy fail.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 5 Comments
  • Sat, Jan. 31, 5:01 PM
    • Russia’s gross domestic product is expected to shrink by 3% in 2015 with oil prices at $50/bbl and an estimated capital outflow at $115B, announced Alexei Ulyukayev, the country's economy minister.
    • Inflation in 2015 is now forecast to stand at 12%, up from the previous estimate of 7.5%, he added.
    • The announcement comes just a day after the Russian central bank unexpectedly lowered its key interest rate by two percentage points to 15%, and almost a week after the country's credit rating was cut to "junk status" at Standard & Poor's.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 74 Comments
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RBL Description
The SPDR® S&P® Russia ETF seeks to provide investment results that, before fees and expenses, correspond generally to the price and yield performance of the S&P Russia Capped BMI Index (ticker: SPCQXRUP). Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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Country: Russia
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