Trump's honeymoon with capital markets is on the rocks, kept alive only by the occasional soundbite about "massive" or "phenomenal" tax cuts; it now appears that the US president's - until recently - amicable relationship with Russia is also quickly souring. 

According to Bloomberg, the Kremlin has ordered Russian state media to cut "way back" on their fawning coverage of President Donald Trump, in what three sources told BBG is a "reflection of growing concern among senior Russian officials that the new U.S. administration will be less friendly than first thought." 

The Russian president has defended his decision saying it is the result of declining interest among the Russian viewers in Trump's rise to power, but Bloomberg adds that some of the most popular TV segments on Trump touched on ideas the Kremlin would rather not promote, such as his pledge to “drain the swamp." 

The suggestion is that since Trump is looking to end governmental corruption, the "authoritarian" Putin should be worried; and yet instead of "draining the swamp" Trump has filled it by surrounded himself with precisely those bankers he used as populist examples of all that is wrong with the government.  As such, Putin should greet Trump's failed "swamp draining" although that part did not make it into the Bloomberg report. 

Putin's decree comes at a time of rising anti-Russian sentiment in Washington, where U.S. spy and law-enforcement agencies are conducting multiple investigations to determine the full extent of contacts Trump’s advisers had with Russia during and after the 2016 election campaign. 

According to Bloomberg, the order marks a stark turnaround from just a few weeks ago when Russia hailed Trump's presidential victory as the beginning of a new era of cooperation between the former Cold War foes. " Trump’s campaign was watched with rapture as news anchors gushed over the novelty of hearing an American presidential candidate praise Putin.  But the wall-to-wall coverage went too far for the Kremlin’s liking."  In January, Trump reportedly received more mentions in the media than Putin, relegating the Russian leader to the No.  2 spot for the first time since he returned to the Kremlin in 2012 after four years as premier, according to Interfax data." 

That said, there has certainly been a chilling in relations between Trump and Putin.  In recent weeks, numerous White House officials, including Trump, have criticized Russia for its annexation of Crimea and the subsequent violence in Ukraine.  Trump on Wednesday accused Putin of seizing Crimea from Ukraine in a series of Twitter posts that were delivered amid a flurry of allegations that his team has ties to Russia. 

"Crimea was TAKEN by Russia during the Obama Administration.  Was Obama too soft on Russia?"  the U.S. president tweeted. 

As Bloomberg concludes, Russian officials, who had readily commented to local media on earlier news from Washington, suddenly became less talkative after the Crimea comment. 

And so, with Trump-Putin relations suddenly in purgatory, and Trump's domestic "Russia-facing" exposure in chaos, it is now unclear how Trump will pivot away to restore what many had hoped would lead to a restoration in normal relations between the two countries.