World Economy

Russian Bonds Rise

Russian Bonds RiseRussian Bonds Rise

Russian bonds gained, pushing the yield to the lowest level in three weeks, as oil prices recovered and investors bet the central bank will have room to resume interest-rate cuts in 2016. The ruble trimmed its weekly appreciation, Bloomberg reported. Yields on five-year government notes, known as OFZs, fell three basis points to 10.07% in Moscow, bringing the drop this week to eight basis points, the most since the period ended Nov. 20. The ruble, which weakened on Friday, is up 0.4% over five days. Brent crude, used to price Russia’s main export blend, climbed the most since October this week.