Investors will be nervously sorting through the aftermath of a short-lived rebellion that's seen leaving Russian President Vladimir Putin weakened --- and...
Investors will start the week nervously sorting through the aftermath of a short-lived rebellion by the mercenary Wagner Group that’s seen leaving Russian President Vladimir Putin weakened.
See: Russia’s short-lived revolt could have long-term consequences for Putin, as questions remain over Prigozhin’s whereabouts Nonetheless, the war in Ukraine “is weakening Russia in various ways, including by creating internal strife and dangerously discontented elites who have some power,” Friedman told MarketWatch. “The perception of Putin’s fallibility and weakness is growing and creates its own reality. That is dangerous to him. It’s hard to predict what additional power grabs and instability that could create,” he said.
While conventional wisdom sees signs of Putin’s weakness, the Russian leader has often been underestimated, he said. As events unspooled Saturday, analysts warned that extended strife could spark a flight to quality when markets reopened into assets like U.S. Treasury bonds TMUBMUSD10Y , the U.S. dollar DXY and other havens like the Japanese yen USDJPY , Swiss franc USDCHF and gold GC00 .
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