Bonds Climb as Oil Plunge Damps Inflation Jitters; Ruble Slumps
- Crude sinks to one-month low as OPEC accord remains unresolved
- Most Asian futures signal losses after S&P 500 fluctuates
OPEC Sees More Cut Exemption Requests
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Bonds rose as a plunge in crude oil eased concern that quickening inflation would erode the value of fixed interest payments. Stocks were little changed.
Government debt advanced in 20 out of 25 developed markets tracked by Bloomberg, with Treasuries posting their first back-to-back gain in two weeks. Oil sank to a one-month low after talks between OPEC and other producers failed to yield details on an accord to cut output. Russia’s ruble and Colombia’s peso led losses in currencies of crude exporters. U.S. equities traded near a six-week low as a rout in energy shares offset a pick up in deals.