U.S. stock index futures continue the trend of yesterday’s trading session, during which major indices declined 0.8% to 2.26% amid hawkish statements from Leila Brainard. As of 4:15 p.m. Moscow time, the Dow Jones Index futures were down 0.65%. The S&P 500 and Nasdaq were down 0.88% and 1.5%.
The ruble is rising against the dollar and the euro. Photo: Associated Press
At the same time the ruble continues to strengthen against major world currencies despite the potential risks of a technical default on Eurobonds. The dollar has fallen to nearly ₽81. The euro currency is successfully consolidating below the psychological level of ₽90.
Do we expect a default or a pass?
The Russian Finance Ministry made a payment in rubles as part of its $650 million sovereign eurobond obligations, Prime reported. The agent bank has refused to convert the funds into the currency of the payment. Experts agree that this may be recognized as a formal default. But judging by the trading on the currency market, this factor has been taken into account by the traders.
On the topic: Lail Brainard “landed” Nasdaq in the fight against inflation