UKRAINE FLIRTS WITH DEFAULT

Following the pattern we have identified in other countries in the region, Ukraine is once more getting itself into a deeper and deeper mess.  Part of the problem is political, part of it is economic, and part is a combination of the two.  Moreover, Ukraine has one of...

The Slowdown in China Takes a Turn for the Worse

The market has recently taken relief from the decision by China to lower the reserve requirement ratio (RRR) as well as the signal that it will be the first of a series of cuts. Monetary easing in China, the notion goes, is bullish for risky assets. This is certainly...