Russian Markets Pare Losses as U.S. Bond Sanctions Seen Mild
- Bonds and ruble trim drop as curbs target only primary market
- Biden announces penalties after weeks of mounting tension
Photographer: Andrey Rudakov/Bloomberg
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Russian markets trimmed losses as investors speculated that the impact of long-awaited U.S. debt sanctions would be milder than feared.
Benchmark ruble bonds pared declines, leaving the yield up the most since September. The White House barred U.S. financial institutions from buying new Russian bonds, a step that potentially leaves the secondary market unaffected. The ruble and stocks also clawed back losses.