‘Funny Paper’ With policy makers weighing the first increase to the refinancing rate since 2008, OFZ yields will be big pressure to go said. liberation of the OFZ market, “under higher,” “The making it simpler for both domestic and international investors to get involved, could help to balance out the prospect of rising borrowing costs.” Russia delayed its first ever sale of ruble bonds to foreign investors in December as the European debt crisis and Irish bank demand for assets bailout weakened investors’ viewed as posing higher risk. The possibility of trading OFZs on Euroclear would lure more international investors to Russia than offering like the ruble-denominated Eurobond, Tishin said. “funny paper” To contact the reporter on this story: in Moscow at To contact the editor responsible for this story: Gavin Serkin at . Last Updated: January 12, 2011 02:00 EST Russian Winter Grains Were Shielded by Snow Cover, Center Says By Marina Sysoyeva Jan. 11 (Bloomberg) -- Russian winter-grain plantings were shielded from frost in first 10 days by snow cover exceeding 55 centimeters (21.7 inches) in some January’s places, the national weather center said. Frost was dangerous for winter crops anywhere with such snow the said on “not cover,” its website today. Snow depths were at least 20 centimeters in most parts of European Russia and 15 centimeters in Asian regions, it said, adding that plantings will be in until Jan. 20. “satisfactory” condition nationwide An ice crust from 0.5 centimeter to 1.5 centimeters thick was for plantings “unfavorable” in four regions of the Central Federal District and three of the Volga Federal District’s regions in the first 10 days, according to the center. The crust may disappear if month’s higher temperatures persist, it said. A 10-centimeter snow layer combined with temperatures as low as minus 23 degrees Celsius (minus 9.4 degrees Fahrenheit) represented a to in some “danger plantings” locations in the western Altai region, the center said. An ice crust of as much as 1.4
‘Funny Paper’ With policy makers weighing the first increase to the refinancing rate since 2008, OFZ yields will be “under big pressure to go higher,” said. “The liberation of the OFZ market, making it simpler for both domestic and international investors to get involved, could help to balance out the prospect of rising borrowing costs.” Russia delayed its first ever sale of ruble bonds to foreign investors in December as the European debt crisis and Irish bank bailout weakened investors’ demand for assets viewed as posing higher risk. The possibility of trading OFZs on Euroclear would lure more international investors to Russia than offering “funny paper” like the ruble-denominated Eurobond, Tishin said. To contact the reporter on this story: in Moscow at To contact the editor responsible for this story: Gavin Serkin at . Last Updated: January 12, 2011 02:00 EST Russian Winter Grains Were Shielded by Snow Cover, Center Says By Marina Sysoyeva Jan. 11 (Bloomberg) -- Russian winter-grain plantings were shielded from frost in January’s first 10 days by snow cover exceeding 55 centimeters (21.7 inches) in some places, the national weather center said. Frost was “not dangerous for winter crops anywhere with such snow cover,” the said on its website today. Snow depths were at least 20 centimeters in most parts of European Russia and 15 centimeters in Asian regions, it said, adding that plantings will be in “satisfactory” condition nationwide until Jan. 20. An ice crust from 0.5 centimeter to 1.5 centimeters thick was “unfavorable” for plantings in four regions of the Central Federal District and three of the Volga Federal District’s regions in the month’s first 10 days, according to the center. The crust may disappear if higher temperatures persist, it said. A 10-centimeter snow layer combined with temperatures as low as minus 23 degrees Celsius (minus 9.4 degrees Fahrenheit) represented a “danger to plantings” in some locations in the western Altai region, the center said. An ice crust of as much as 1.4