Russian Bonds Trade at Three-Week Low as Investors Hedge Supply
- Ruble falls after Putin warning on strength versus commodities
- Government to sell 25 billion rubles in bond auction Wednesday
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Russian bonds fell for a third day as investors bet on future declines for long-maturity notes before a government bond auction Wednesday.
Ten-year yields rose one basis point to 8.51 percent, the highest since June 27 and a 15 basis-point increase in the past five days. The ruble weakened 0.9 percent to 63.3825 at 6:46 p.m. in Moscow after President Vladimir Putin said it had appreciated too much relative to commodities.