The Russian ruble extended declines after closing at a record low on Monday as data showed hedge funds turned bearish on the exchange rate for the first time since October. The ruble depreciated 0.6 percent to 72.6360 per dollar by 12:47 p.m. in Moscow, its fourth day of losses and bringing this month’s decline to 8.5 percent, compared with an 18 percent retreat in Brent crude. Five-year government notes were unchanged to yield 10.02 percent. Hedge funds and large speculators were net short 835 futures contracts on the currency in the week ended Dec. 22, wagering the ruble will decline in value, according to U.S. Commodity Futures Trading Commission data. That compares with net long positions of 836 in the prior five trading days. Russia has been getting less than 3,000 rubles for each barrel of oil it sells this month, compared with a one-year average of 3,240 rubles, […]