Russian Stocks Climb to Fresh Record as Ruble Gains on Oil, Fed
- Micex Index’s RSI is still short of overbought level
- Five-year bond yields fall for longest stretch since May
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Russian stocks climbed to a record for the second day in a row and the ruble rallied with bonds as oil advanced and investors speculated U.S. rates will stay low, fueling demand for higher-yielding assets.
The Micex Index closed up 0.7 percent to 2,017.38 after piercing the 2,000-point level for the first time on Friday. The Russian currency edged 0.1 percent higher to 65.01 per dollar by 7:25 p.m. in Moscow, its second day of gains. Five-year ruble yields fell for the fifth day, the longest winning streak since May. Oil, Russia’s key export earner, rose 1.4 percent to $47.47 a barrel.