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Barclays, Jefferies Are Among Firms Brokering Trades of Ruble Bonds

  • Activity in Russian government ruble bonds rising, people say
  • Sanctions have created a bifurcated market for the notes
Updated on

Barclays Plc and Jefferies Financial Group Inc. are among firms facilitating a sudden uptick in trading in the Russian government’s local-currency bonds.

The financial institutions have been offering bids in the region of 20-25 kopecks on the ruble, according to people familiar with the matter, who declined to be identified because the information is private. In Moscow, the bonds trade at about 90% of face value, according to data from the Moscow exchange.