Steen Jakobsen on the most ‘volatile cocktail’ in Russia

The huge fall in the ruble this Tuesday is a crisis for Russia with potentially huge implications for the rest of the world. That’s according to Saxo Bank’s Chief Investment Officer, Steen Jakobsen who says that we’re hours, not days away from capital restrictions in the country.

Steen says a trader’s strategy is to realise that the crisis will negatively impact not only Russia domestically but all of Europe’s growth.

What’s going on could lead to liquidity problems and you must be sure, says Steen, that if you have a risky position, you can exit it. However, he remains a long-term Russian ‘bull’, pointing out that the stock market trades with a P/E ratio lower than divided yield. He says we’re now entering a crazy period in the markets and he gives his thoughts as to how traders can deal with any fallout.

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