Ruble is a gold success story ✨

Sanctions, tariffs, raising M2 - it doesn't care

Central Bank Of Russia sold off their US bonds & loaded up on gold

⬇️ US bond prices are down
⬆️ Gold is up
⬆️ Ruble is up against USD

Expect this playbook to be repeated by others

not all bonds are the same 🇺🇸🇯🇵🇪🇺🇷🇺

while US, EU & Japan yields are soaring 📈

Russian bond yields are falling 📉

🇷🇺 10Y bond yield down 8% since March

just like i wrote more than 3 months ago

check my posts for a detailed expiation & what's coming next

👇

🇷🇺 Russian 3Y bond yield is down ≈20% over the last 3 months 😳

of course - this isn't a surprise to you if you've been following my posts. i wrote extensively about this

the biggest reason behind the sharp drop today is the recent 200bp key interest rate cut down to 18%