Putin Olive Branch Seen Boosting Bond-Sale Demand: Russia Credit - Bloomberg:
"President Vladimir Putin’s steps to ease the crisis with Ukraine are adding fuel to a two-month recovery in Russian assets as the government sold out its first ruble-debt auction in a month.
The Finance Ministry sold all 10 billion rubles ($295 million) of OFZs due August 2023 offered today at an average yield of 8.43 percent, it said on its website. Yields on the debt slid 10 basis points yesterday to 8.42 percent after Putin asked lawmakers to revoke the right to use force in Ukraine. The drop was tied for the second biggest among 24 emerging markets monitored by Bloomberg.
Steps to de-escalate the four-month conflict have sparked a rally in Russian assets, which were further boosted as oil prices rise amid the turmoil in Iraq. While the government in Kiev and pro-Russian separatists called a cease-fire this week, violence flared up yesterday, raising the specter of more sanctions."
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