Managers Buy Russia CDS On Oil Price Drop

16 May 2012

Asset managers are buying credit default swaps on Russia because of the impact lower oil prices could have on the country’s finances.

Asset managers are buying credit default swaps on Russia because of the impact lower oil prices could have on the country’s finances.

“Russia’s budget is highly dependent on oil,” said one London CDS trader. “Oil is coming off pretty bad.” According to Bloomberg, the price of a Brent ...

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