Russian (RSX, quote) stocks in US afternoon trading have caught fire as the outcome from the Geneva discussions shows some tangible progress beyond merely a constructive tone that was all markets could have expected to gain from the event.
While I’m not surprised to see the weekend press dominated by the impact of sanctions on Russian macro, I have been pretty clear in saying the Russian economy was headed for flat to slightly higher (+0.5%) GDP growth in 2014 unless the world economy demanded much greater from the commodity space.
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