March 28, 2018 / 7:06 AM / 25 days ago

Russia dollar-bond yield spreads widen as diplomatic tensions rise

LONDON, March 28 (Reuters) - The premium demanded by investors to hold Russian sovereign dollar bonds over safe haven U.S. Treasuries widened on Wednesday to their highest level since mid-December over rising diplomatic tensions due to a nerve agent attack on British soil.

The average yield spread of Russian dollar bonds over U.S. Treasuries on the JPMorgan EMBI Global Diversified index widened by 1 basis points (bps) from Tuesday’s close to 185 bps. The overall index has narrowed 2 bps since the previous close.

Moscow has come under increasing international pressure following the nerve toxin attack on a former Russian double agent in England which has led to the expulsion of Russian diplomats from countries around the globe. (Reporting by Karin Strohecker, editing by Claire Milhench)

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