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Video / 19 November 2015 at 8:47 GMT

Fasdal: The worst is over for Russia and here's why

Simon Fasdal
Saxo's Simon Fasdal believes the worst is over for Russia. The rouble is beginning to stabilise and could possibly strengthen, he says. Although the oil price has hit Russia hard, Simon believes that even a small price increase would help the economy.

The high level of inflation that has plagued the country could also have peaked. Fasdal is hopeful that GDP could also pick up in the coming months.

The geopolitical landscape is changing and Simon thinks Russia could benefit. If the chaos in the Middle East leads to more talks between Vladimir Putin and the West, the withdrawal of sanctions could be on the cards, which would greatly help the Russian economy. 

Both equity and bond markets priced in roubles have stabilised, Simon says and if that continues Russian assets will look more attractive. He also discusses equity ETFs, rouble denominated government bonds as well as Russian corporate bonds priced in US dollars.
JulioCésar JulioCésar
Mr. Fasdal, What are the best instruments to trade your suggestions?
Simon Fasdal Simon Fasdal
For Instance: exposure to equities: ETF's like RSX, RSXJ, ERUS. Exposure to creditspread/riskpremium: Corporate bonds in USD, like Gazprom, Metalloinvest, Sberbank. Exposure to RUB, for instance: RUB denominated government bonds.
JulioCésar JulioCésar
Thanks, Mr. Fasdal.
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