Ruble Rebounds With Russia Bonds as Putin Calms Ukraine Concerns
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The ruble rebounded, Russian stocks surged and government bond yields tumbled after President Vladimir Putin said he’s not planning on sending troops to Ukraine, easing investors’ concern the standoff will escalate.
The Russian currency appreciated 1.1 percent to 42.2009 against Bank Rossii’s target basket of dollars and euros by 6 p.m. in Moscow, when the central bank stops its market operations. The yield on benchmark bonds due in February 2027 fell 17 basis points, or 0.17 percentage point, to 8.71 percent, even as the Finance Ministry canceled tomorrow’s debt auction, citing market conditions. The benchmark Micex Index surged the most in almost four years.