Russian Stocks Soar After Biggest Outflow In 11 Months

April 20, 2016 4:08pm NYSE:RBL NYSE:RSX

russiaTyler Durden:  The Doha-disappointment appears to have sparked some risk-aversion as yesterday saw Russia’s biggest exchange-traded fund – Market Vectors Russia ETF – suffer its largest outflows since May 2015.


 

However, in a perfect example of ill-timed moves, Russian stocks have soared over 6% from the knee-jerk lows pushing back up towards cycle highs.

 

Of course, this selling pressure makes some sense given that oil and natural gas account for about a third of Russia’s budget revenue and almost 60 percent of its exports.

But of course, a disappointing Doha appears to have sparked panic-buying around the world in everything.

This article is brought to you courtesy of Tyler Durden From Zero Hedge.


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