Russia cancels auction for 5th week in row

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Moscow - Russia's Finance Ministry said in a statement on Tuesday it was cancelling this week's treasury bond auction due to “unfavourable market conditions”.

This is the fifth straight week the auction has been cancelled, suggesting that demand for Russian bonds remains lukewarm in light of the Ukraine crisis.

The ministry holds its weekly domestic bonds sales on Wednesdays and announces the planned sales volume on Tuesdays. - Reuters

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