Seeking Alpha

Russia cancels bond auction for 2nd straight week

  • "An analysis of market conditions" has Finance Ministry scrapping the sale of debt after the emerging market rout pushed yields Russia's longer-term debt to record highs. The news sent the yield on paper due in Jan. 2028 down 8 basis points to 8.37%, and the ruble slightly higher. YTD, the ruble is off 6.9% - the worst among 24 emerging market currencies tracked by Bloomberg.
  • The country has plans to sell $7.8B of debt in Q1.
  • Russia ETFs: RSX, RUSL, ERUS, RUSS, RSXJ, RBL, RUDR
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