, Columnist
Russia Plays It Safe
Bowing to pressure now to keep capital markets open tomorrow.
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Russia's new bond sale on Friday didn't go quite as smoothly as Vladimir Putin's reelection as president on Sunday. But it was close.
With $7.5 billion of orders from 170 investors for $4 billion of debt this was a carefully managed success. It was most certainly not a barnstormer. But that doesn't matter -- the main point is that, for Russia, global capital markets remain open.