REUTERS/Grigory Dukor
(L-R) Jessica Trengove of Australia, Kim Mi-gyong of North Korea, Kim Hye-song of North Korea and Susan Partridge of Britain run past the Kremlin and St. Basil's Cathedral at the Red Square in their women's marathon during the IAAF World Athletics Championships in Moscow August 10, 2013.
The government was offering $379 million-worth of 10-year notes at 7.70%-7.75%.
It's the second time in four months, and third in less than a year, that the country's finance ministry had to declare an auction invalid — on May 29, a surge in yields forced the cancellation of a $1.1 billion Ruble sale.
Yields climbed 13 bps yesterday to 7.79%, and are up about 100 bps since April:
The weakness seen in Russian bonds (as well as the Russian ruble) are consistent with the general weakness seen in all emerging markets lately.