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SPDR S&P Russia ETF (RBL)

- NYSEARCA
  • Dec. 15, 2014, 5:17 PM
    • Desperate to halt the ruble's plunge and prevent inflation from getting out of control, Russia's central bank has hiked its key interest rate to 17% from 10.5%. The bank is only four days removed from hiking the rate to 10.5% from 8%.
    • The ruble fell 13% today against the dollar. The exchange rate now stands at 65.6.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    • Update (5:53PM ET): For now, the ruble has jumped in response to the rate hike. The dollar exchange rate is back down to 60.1.
    | 25 Comments
  • Dec. 15, 2014, 10:35 AM
    • For the first time ever, it takes more than 60 rubles to buy a dollar after the currency's more than 6% plunge today. Alongside the ruble's disappearance are rising yields on Russian yields providing a double-whammy to energy companies already dealing with crashing oil prices.
    • “There’s just not enough dollars there. Sanctions, capital flight, low oil prices — its feeding into this weakness,” says Win Thin, head of emerging market currency strategy at Brown Brothers Harriman.
    • The Micex is lower by 1.9% on the session. RSX -6.3%
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 15 Comments
  • Dec. 11, 2014, 8:10 AM
    • As expected, the Bank of Russia lifts its benchmark rate by 100 basis points to 10.5%. The ruble slipped another 0.7% to 55.24 per dollar.
    • “This is a spineless decision,” says a Moscow fund manager. “If the central bank’s goal was to defend the ruble, it would’ve raised rates by 2-3 percentage points.”
    • Russian policy makers are running out of options as about $80B spent defending the ruble and rate hikes have failed to stem the currency's depreciation (off 40% this year).
    • In its statement, the central bank vows further increases in interest rates "in case of further aggravation of inflation risks."
    • RSX -1.7% premarket
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 5 Comments
  • Dec. 8, 2014, 10:37 AM
    • Russia's MICEX Index is down 2.9%, as worries about plunging oil prices (coming in the wake of sanctions placed earlier this year) continue taking a toll. WTI crude is down $1.46 today to $64.38, after Morgan Stanley slashed its oil price forecasts.
    • Yandex (YNDX -7.3%), Qiwi (QIWI -6.5%), VimpelCom (VIP -5%), and MTS (MBT -5.5%) aren't faring well in U.S. trading.
    • ETFs: RSX, RUSL, RUSS, ERUS, RBL
    | 10 Comments
  • Dec. 3, 2014, 4:35 AM
    • The Bank of Russia spent $700M trying to ease downside pressure on the ruble this past Monday in its first intervention after switching to the ruble free float on Nov. 10.
    • Prior to Nov. 10, the central bank spent nearly $30B of its reserves to stop the ruble's drop, although the interventions did little to end the decline.
    • The ruble still continued sliding yesterday, and hit an all-time low of 54.34 vs. the dollar Wednesday, as oil heads toward $70/barrel.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | 7 Comments
  • Nov. 30, 2014, 5:04 AM
    • OPEC's decision to maintain production despite the bear market in oil has forced Russia not to proceed with its own cuts, Russian First Deputy Prime Minister Igor Shuvalov said on Saturday.
    • With oil and natural gas sales representing half of its budget, the fall in prices has made an even bigger dent in Russia's economy, which is already teetering on the brink of recession.
    • ETFs: USO, OIL, RSX, UCO, SCO, RUSL, BNO, DTO, DBO, RUSS, RSXJ, ERUS, CRUD, UWTI, USL, RBL, DWTI, DNO, SZO, OLO, OLEM, TWTI
    | 61 Comments
  • Nov. 28, 2014, 11:13 AM
    • The ruble hit an all-time low of 49.90 vs the dollar after OPEC yesterday declined to cut production, sending oil plunging below $70 per barrel.
    • Moving to try and stem the decline, the Bank of Russia today announced an extension of time in which $2B currency swap operations are allowed.
    • RSX -4.3%
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL
    | Comment!
  • Nov. 24, 2014, 6:43 AM
    • A slump in oil prices and Western sanctions are biting hard at Russia's economy.
    • "We're losing around $40B a year because of geopolitical sanctions, and about $90B-$100B from oil prices falling by 30%," announced Finance Minister Anton Siluanov at a news conference today.
    • The country's Energy Minister, Alexander Novak, said on Saturday that there are no plans to cut oil production to support falling crude prices.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 1 Comment
  • Nov. 22, 2014, 2:06 PM
    | 16 Comments
  • Nov. 19, 2014, 4:32 AM
    • China and Russia have vowed to strengthen bilateral military co-operation and hold joint naval exercises to counter U.S. influence in the Asia-Pacific region.
    • The pledge comes on the heels of yesterday's contentious remarks made by Vladimir Putin.
    • "They (the U.S.) do not want to humiliate us, they want to subdue us," said Putin. "No one in history ever managed to achieve this with Russia, and no one ever will."
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 10 Comments
  • Nov. 16, 2014, 7:09 AM
    • The G20 summit in Brisbane has ended with world leaders committing to a series of measures that would boost their economies by an extra 2.1% by 2018 by promoting infrastructure investment and trade.
    • The summit also included agreements to crack down on tax dodging, strengthen the financial system, deal with climate change and a transatlantic trade deal between the U.S. and EU.
    • Such meetings are typically marked by grandiose promises that are seldom met, so the summit agreed on a new regime, run by the IMF and the OECD, to hold countries accountable if they do not deliver.
    • Vladimir Putin reportedly walked out early from the summit in response to repeated criticism from western leaders over the crisis in Ukraine.
    • The West is now considering further sanctions against Russia, although further "sectoral" sanctions against other parts of country's economy are unlikely this week.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 30 Comments
  • Nov. 14, 2014, 3:32 AM
    • "If Russia takes a positive approach towards Ukraine...we could see those sanctions removed, if Russia continues to make matters worse then we could see those sanctions increased, it's as simple as that," warns David Cameron ahead of Saturday's G20 leaders summit in Australia.
    • The summit will focus on world growth, the global banking system and closing tax loopholes, but with much of the economic agenda agreed upon in Beijing this past week, security concerns are moving to center-stage, setting up a showdown between Western leaders and Vladimir Putin.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 1 Comment
  • Nov. 13, 2014, 3:44 AM
    • It is necessary "to abandon sanctions and return to normal, calm, productive talks", says Russia's Prime Minister Dmitry Medvedev after meeting President Obama on the sidelines of a meeting in Asia.
    • The conflict has put immense pressure on Ukraine's struggling economy, causing its central bank to raise its key discount rate for the third time this year to combat its plummeting currency.
    • Ukraine has also redeployed troops in the east after NATO confirmed reports of Russian troops and tanks entering the country the past few days.
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 7 Comments
  • Nov. 11, 2014, 1:36 PM
    • “The [Russian] central bank’s retreat from propping up the ruble highlights the fix the country is in," writes Mohamed El-Erian. He notes the central bank's initial intervention response to sanctions helped halt a disorderly decline in the ruble, but the collapse in oil prices and pickup in capital flight have overwhelmed this strategy.
    • "Something will have to give in the next few weeks. The country’s foreign-exchange situation could spin further out of control, at one extreme, or the Russian authorities might respond strongly with a range of fiscal and monetary measures, on the other, including higher interest rates and spending cuts." Either one, says El-Erian, is sure to pressure economic growth even more in the short-term.
    • RSX -1.2%
    • ETFs: RSX, RUSL, RUSS, RSXJ, ERUS, RBL, RUDR
    | 18 Comments
  • Nov. 8, 2014, 1:55 PM
    • "Some are even saying that it's already begun," the former Soviet leader said at an event today.
    • "The events of the past months are consequences of short-sighted policies of seeking to impose one's will and fait accompli while ignoring the interests of one's partners."
    • The Ukraine crisis is a "blister turning into a bleeding, festering wound."
    • "Let us remember that without Russian-German partnership there can be no security in Europe."
    • Sources: Telegraph, RIA Novosti
    • ETFs: RSX, RUSL, RUSS, ERUS, RBL, RUDR
    | 31 Comments
  • Nov. 6, 2014, 3:39 AM
    • Kiev has announced that it will halt payment of state funds to areas controlled by pro-Moscow rebels, saying they violated a September peace deal earlier this week by holding elections outside Ukrainian rules.
    • Similarly, German Chancellor Angela Merkel ruled out lifting economic sanctions on Russia due to the elections, and said that separatist leaders appointed after the vote could also be added to sanction lists.
    • ETFs: RSX, RUSL, RSXJ, RUSS, ERUS, RBL, RUDR
    | Comment!
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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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