Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Morgan Stanley analysts initiate a long rouble position

Stock MarketsFeb 08, 2021 09:20AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: Packs of 1000 Russian Roubles notes are pictured at Goznak printing factory in Moscow 2/2

LONDON (Reuters) - Morgan Stanley (NYSE:MS) initiated a long Russian rouble position against a 50-50 basket of the dollar and the euro it said on Monday, targeting a 6% rise in the Russian currency.

"We think it's time to get back into Russian assets," the U.S. investment bank's analysts said in a note titled "Enough Waiting, Time To Buy".

They said new U.S. sanctions being proposed in relation to the poisoning and jailing of Kremlin critic Alexei Navalny would not pose a material risk to Russia's macroeconomic outlook, while the recent rise in oil prices should help the currency.

"We target a 6% appreciation, which is roughly a 75% reduction in risk premia on our measure," Morgan Stanley said.

"The uncertainty is the response by the U.S. to the cyber attacks, which is a bigger risk and can cause a wobble in asset prices, but we think this might be an opportunity to increase exposure."

Morgan Stanley analysts initiate a long rouble position
 

Related Articles

Dollar edges up before U.S. inflation data
Dollar edges up before U.S. inflation data By Reuters - Apr 13, 2021 25

By Elizabeth Howcroft LONDON (Reuters) - The dollar edged higher on Tuesday, helped by a pick-up in U.S. Treasury yields, while riskier currencies dipped, as markets waited for...

Dollar Edges Higher Ahead of Key Inflation Data
Dollar Edges Higher Ahead of Key Inflation Data By Investing.com - Apr 13, 2021 1

By Peter Nurse Investing.com - The dollar edged higher in early European trading Tuesday, helped by rising Treasury yields, but gains have been limited ahead of the release of key...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (6)
John Klan
John Klan Feb 08, 2021 9:50AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Censorship on this level is alarming. Scratch the first amendment. Is this what so called Liberals call liberalism? Ridiculous.
John Klan
John Klan Feb 08, 2021 9:47AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Seriously...the censored the word billing ..replace the b with a k . in context of Biden ...censored...U.S. oil companies.....
John Klan
John Klan Feb 08, 2021 9:42AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Biden ********U.S. oil companies will be a big boon for his Russian and Ukrainian friends.
Gustavus Maramis
Gustavus Maramis Feb 08, 2021 9:34AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Rus is replacing USD with Gold. They have tons of Gold now.
Vlad Lozovskiy
Vlad Lozovskiy Feb 08, 2021 9:30AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Lol, Lol, Lol.  Even if the guy in Russia poisons, jails, kills everyone, we will still invest! Money is Money
Picaso Fish
Picaso_Fish Feb 08, 2021 8:39AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is shocking, because Morgan is an US based firm. There supposed to be capitalist cheer leaders. Isn't this un American? The russian's have free health care for crying out loud!
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email