Wednesday June 3, 2020

Russia axes sixth bond sale after Crimea drives yield to record

Russia cancelled its sixth ruble bond auction this year after borrowing costs rose to a record as President Vladimir Putin backed annexing the Crimean peninsula.

18th March, 2014
The Russian ruble has weakened 9.9 percent against the dollar this year.

Russia cancelled its sixth ruble bond auction this year after borrowing costs rose to a record as President Vladimir Putin backed annexing the Crimean peninsula and western nations threatened tougher sanctions.

* **Russian stock rebound likely to be shortlived, say analysts. Read more here**

The Finance Ministry said it pulled tomorrow’s sale, citing “unfavourable market conditions” in a statement on its website today. The yield on Russia’s ruble debt due February 2027 rose eight basis points...

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