The first bond in Euros and benchmark debt in dollars are now available from Russia. This comes after investor confidence is filed with trepidation as there are fears the latest US Federal Reserve meeting would start the cutbacks in its stimulus spending.

The Russian government is planning to issue two bonds denominated in the Euro and three bonds denominated in US dollars. This was confirmed by an anonymous source familiar with the transaction though the information was not yet made public. According to Russian Finance Minister Anton Siluanov last August 22, the country was awaiting the 'best window' to sell off the debt now worth at USD7 billion.

The emerging bonds market that plunged after Fed Chairman Ben Bernanke made a remark last May 22 about the US scaling down its stimulus expenditures if the employment figures indicate 'sustainable improvement'.

The current rate for Russia's USD 3 billion notes due on April 2042 increased by six basis points to its highest level since March of 2012. The yield amount increased by 146 basis points since May and was recorded at 5.798% at the time of the sale.