Russian bonds fell for a third day and the ruble retreated as Commerzbank AG recommended selling the nation’s local debt as sliding oil prices make it less likely that the central bank can press on with interest-rate cuts The decline in five-year OFZ bonds lifted the yield three basis points to 11.26 percent, set for the highest level in a month. The currency weakened 0.5 percent to 65.8560 per dollar by 6:08 p.m. in Moscow, a six-month low as President Vladimir Putin said he discussed the currency on Tuesday with Prime Minister Dmitry Medvedev. Assets in the world’s biggest energy exporter are under pressure as oil trades in a bear market, diminishing the scope for deeper reductions in borrowing costs after the Bank of Russia lowered them by 600 basis points this year. Brent oil fell for a fourth day, dropping 0.4 percent to $48.53 a barrel, headed for […]