Page 82 - RusRPTDec18
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8.5 Fixed income
8.5.1 Fixed income - bond news
On November 9, yields of the Russian state treasury bills (OFZ) came close to of 9% yield per annum mark. By the close of trading, the yield on 13- and 16-year-old securities reached 8.98% per annum, while 10- and 15- year securities reached 8.94%. OFZ have becoming cheaper and the yields investors are demanding have been rising on the back of fears over possible “crushing” sanctions that could be imposed by the US this autumn. In November, the United States may approve a new package of sanctions against Russia that could ban operations with new issues of Russian government securities with a maturity of more than two weeks and limit the operations of the largest banks in dollars.
Russia's Finance Ministry managed to place all RUB20bn worth of OFZ federal bonds proposed at a weekly sale of November 21, making the most successful auction since August. The ministry fully placed RUB10bn of three-
82 RUSSIA Country Report December 2018 www.intellinews.com
