Economics
Russian Bonds Rise as Sanctions Act as Shield From Brexit Shock
- Russia looks like ‘safe haven’ for investors, Rosbank says
- Stable oil prices underpin local debt market: Union Investment
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Russian government bonds advanced on speculation foreign sanctions that have diminished the country’s ties to the European Union will protect it from Britain’s decision to leave, offsetting a falling oil price that wiped out earlier gains for the ruble.
Five-year government bonds rose, lowering yields 11 basis points by 5:58 p.m. The currency of the world’s biggest energy exporter was 0.2 percent lower against the dollar, having earlier traded 0.7 percent higher.