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Russian investors bank on bonds linked to consumer prices

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A weaker rouble and economic sanctions on Turkey suggest that inflation breakevens are likely to continue to rise.

Moscow

RUSSIAN investors caught between an oil rout and a ban on Turkish food are finding a way out in one corner of the bond market: securities that bet that rampant inflation won't go away.

Notes indexed to consumer prices returned 1.2 per cent in the past month compared with