The Kremlin has started a low-grade trade war with Ukraine and refused to renegotiate the clearly disadvantageous gas contract signed by Ms Tymoshenko.
For investors who prefer to sacrifice some yield in exchange for greater safety, possibly with the intention of swapping back into speculative grade corporate bonds at a wider spread later on, the most straightforward trade is to switch to Triple-B corporates.
"It's highly doubtful" the Boston bombers used consumer-grade fireworks, said Julie Heckman, executive director of the American Pyrotechnics Association, an industry trade group.
The solution to this is free trade in crude oil: some portion of US production should be shipped abroad and replaced with crude of a different grade to make up that optimal mixture.