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Russian markets are rallying incredibly fast

Russian President Vladimir Putin listens to Finnish President Sauli Niinisto prior to their talks at a residence at the Black Sea resort of Sochi, southern Russia, Friday, Aug. 15, 2014. Putin met with his Finnish counterpart to discuss interaction between the two countries, as well as international problems, first of all, the situation in Ukraine, the Kremlin press service reported. (AP Photo/RIA-Novosti, Mikhail Klimentyev, Presidential Press Service)
P Photo/RIA-Novosti, Mikhail Klimentyev
Always be wary of shorting Putin.
By Matt Phillips
Published Last updated This article is more than 2 years old.

Peace is in the air—or at least in the equity markets.

Russian stocks are on a tear amid expectations that tensions could start to ease with Ukraine. The benchmark Micex index is up for its 10th straight day, its longest winning stretch since 2005.


Of course, Russia stocks were creamed earlier this year as tensions in Ukraine escalated. So even with the recent surge, they’re still slightly in the red for the year.

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