August 9, 2018 / 7:13 AM / 4 months ago

Russian bond spread over Treasuries jumps on U.S. sanctions move

LONDON, Aug 9 (Reuters) - The average yield spread of Russian sovereign bonds over U.S,. Treasuries jumped to their highest since late June on Thursday, after Washington said it would impose more sanctions on Moscow by end-August.

The sanctions will cover sensitive national-security controlled goods, and follow the poisoning of a former Russian agent and his daughter on British soil, in which Moscow has denied involvement. Russia called the new sanctions draconian.

Russia’s average dollar bond yield spread over safe haven U.S. Treasuries on the JPMorgan EMBI Global Diversified index rose by 15 basis points (bps) from Wednesday’s close to 222 bps, the highest level since June 28. (Reporting by Claire Milhench; editing by John Stonestreet)

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