Russia Scraps Ruble Bond Sale in 2nd Cancellation This Month
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Russia scrapped a sale of 15-year ruble bonds, the second time it has canceled an auction this month, citing a lack of bids within the offered yield range.
The Finance Ministry planned to sell 10 billion rubles ($311 million) of the January 2028 notes with guidance of 7.70 percent to 7.75 percent, according to statements this week. The yield on the bond climbed two basis points to 7.84 percent before the results were announced, extending a 13 basis point increase yesterday. The ministry sold all 10 billion rubles of a new three-year note in a separate auction at an average yield of 6.43 percent.