Russian Finance Ministry Says Treasury Bonds Back in Demand

Russia's Finance Ministry sold 15 billion rubles ($240 million) of OFZ treasury bonds at two auctions on Wednesday, the whole amount on offer, in a sign that demand for Russian assets is picking up after taking a hit from the Ukraine crisis.

The ministry sold 10 billion rubles of OFZ bonds maturing in 2020 at an average yield of 13.32 percent and 5 billion of bonds maturing in 2023 at an average yield of 11.99 percent.

It saw good demand at both auctions, where the bids were over three times the volume of bonds offered.

The ministry has seen better demand at its weekly treasury bond auctions recently after being forced to cancel many auctions last year due to market turbulence linked to sanctions over Ukraine.

Read more