Demand for Russian govt bonds at auction outstrips offer almost four-fold
MOSCOW, Feb 7 (Reuters) - Demand for Russian government bonds exceeded the amount of paper on offer by almost four times at auctions on Wednesday following a decision by the United States to hold back from new sanctions on holding Russian debt.
The U.S. Treasury Department said in a report submitted to Congress last week that expanding sanctions on Russia to include new sovereign debt would have "negative spillover effects" on global financial markets and businesses. Foreign investors had previously worried Washington would impose penalties on holding Russian state debt, including OFZ treasury bonds which are popular thanks to their lucrative yields, and details of the report's conclusions only emerged after last week's auctions. At two auctions on Wednesday, the Russian Finance Ministry sold all of the 35 billion roubles ($614 million) of OFZ bonds on offer. Overall demand for the two auctions topped 134.9 billion roubles.
http://www.kitco.com/news/2018-02-07/TABLE-Demand-for-Russian-govt-bonds-at-auction-outstrips-offer-almost-four-fold.html
I guess the ruling party of our Country figured that now that we saved the 1%, its time to help Vlad.
