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Russia Cancels Government Bond Auction for 2nd Straight Week

Russia canceled a bond auction for the second consecutive week after an emerging-market rout sent yields on the nation’s bonds maturing in 2028 to record highs. The ruble climbed for the first time in three days.

The Finance Ministry scrapped the sale after “an analysis of market conditions,” according to a statement on its website. The government plans to offer 275 billion rubles ($7.8 billion) of securities this quarter, according to a timetable published at the end of last year.