Lehman Freeze Evoked as Bond Sale Scrapped Again: Russia Credit
This article is for subscribers only.
Russia canceled its eighth bond sale this year as Finance Minister Anton Siluanov said the nation is facing the toughest conditions since 2008, when Lehman Brothers Holdings Inc.’s collapse sparked the financial crisis.
Yields on local currency 10-year bonds jumped 84 basis points since Russia’s incursion into Ukraine’s Crimea region at the start of March. Rates on similar-maturity securities of Turkey, ranked one level below Russia at Fitch Ratings, fell 34 basis points in the period.