Russia Bond Sales Fail as Ruble to Micex Drop on Ukraine Tension
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Russia scrapped auctions for 20 billion rubles ($560 million) of government notes as investors demanded higher yields after a truce to ease tension in Ukraine faltered.
The Finance Ministry, which has failed to sell bonds in seven of the last eight weekly auctions, canceled the sale of five-year and nine-year ruble-denominated securities today because there were no bids at acceptable prices, according to a statement on its website. The Micex Index of equities declined for a third day and Russia’s benchmark bonds dropped.