Russia Bond Sales Fail as Ruble to Micex Drop on Ukraine Tension #bond #russia

Russia scrapped bond sales for the seventh time in eight weeks as investors demanded higher yields after the U.S. said the country wasn’t taking steps to de-escalate the crisis in Ukraine.

The Finance Ministry canceled the sale of as much as 10 billion rubles ($280 million) of nine-year ruble securities and the same amount of five-year notes because there were no bids at acceptable prices, according to a statement on its website. The Micex Index (INDEXCF) of equities declined for a third day Russia’s benchmark bonds dropped.

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