Russia Bonds Have Worst Rout in Year as Moody’s Warns on Economy
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Russia’s Eurobonds headed for the longest stretch of weekly losses in a year as Moody’s Investors Service signaled the falling ruble is worsening the outlook for the nation’s credit rating.
Russia’s $3 billion of bonds due April 2042 fell for a fourth day, lifting the yield 10 basis points to 6.53 percent as of 5:19 p.m. in Moscow, the highest since March and an 18 basis-point increase in the past five days. The ruble advanced 0.2 percent against the dollar to 64.5920, paring its eighth weekly decline in a row, the longest streak since November.