We extend the Keldysh formulation to quantum spin systems and derive exact equations of motion. This allows us to explore the dynamics of single spins and of ferromagnets when these are inserted between superconducting leads. Several new effects are reported. Chief amongst these are nutations of single S=1/2 spins in Josephson junctions. These nutations are triggered by the superconducting pairing correlations in the leads. Similarly, we find that on rather universal grounds, magnets display unconventional spin wave dynamics when placed in Josephson junctions. These lead to modifications in the tunneling current.

(14 pages, 5 figures)