Ruble Swings, Bonds Climb as Ukraine Deal Reduces Sanctions Risk

Russian stocks and bonds climbed, while the ruble swung between gains and losses as traders weighed the chances that a cease-fire in Ukraine will stave off the threat of further sanctions.

The ruble rebounded by as much as 1.2 percent before trading 1.9 percent weaker at 66.4940 by 4:11 p.m. in Moscow. While investors are waiting to see if the accord holds, the agreement limited the threat of further international sanctions against Russia, according to Otkritie Asset Management.