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Ruble Set for Biggest Gain in Three Weeks as Bond Sales Resume
The ruble headed for its strongest advance in three weeks and bonds climbed after Russia announced its first local-debt sale in 10 weeks as fighting in eastern Ukraine abated. The currency gained 0.3 percent to 38.5680 versus the dollar as of 6 p.m. in Moscow, the largest increase on a closing basis since Sept. 3. Ten-year government bonds climbed, pushing the yield down five basis points to 9.49 percent, the lowest in almost a month. Russian stocks climbed for the first time in five days. The Finance Ministry is offering 10 billion rubles ($259 million) of notes due August 2023 at an auction tomorrow after pulling ... (full story)