Sanctions over Ukraine may threaten Russia’s investments in assets denominated in euros and U.S. dollars, Economy Minister Alexei Ulyukayev said, urging the use of the nation’s wealth funds for domestic projects.
Russia will dip into its rainy-day wealth funds next year to finance Crimea, the Black Sea region absorbed from Ukraine, even as the economy faces stagnation, said four people with knowledge of government discussions.
The ruble weakened the most in a month and stocks retreated after Russia said it planned to buy foreign currency and U.S. lawmakers passed a bill for more sanctions. Bonds dropped as the government sold fewer bonds than offered at its first auction in five weeks.
Emerging-market stocks rose for a ninth day after reports showing an increase in U.S. payrolls and factory orders added to confidence the global economy is recovering. Brazil’s Ibovespa erased this year’s drop.
Securities regulators are considering a change in how they exempt retail investors from proposed restrictions on money-market mutual funds after fund companies complained the original plan was too onerous, according to three people familiar with the matter.
Buyers of debt issued by bankrupt Detroit or junk-rated Puerto Rico are finding it pays to have bond insurance. The backing is even more valuable after upgrades of units of Assured Guaranty Ltd. and MBIA Inc.