in june andikes again in september and beyond that, i think hikes are in question. 3%,ould temporarilyush but not any sustained basis. lisa: we have lots more coming up. ,ack flaherty, subadra rajappa and iain stealey from jpmorgan asset management. coming up, the auction block, russia makes a return to the bond markets. from new york, this is bloomberg real yield. ♪ ♪ for: am lisa abramowicz and jonathan ferro and is boomer "real yield". we head to the auction block as return --es its the government on wednesday told all 10 billion rubles of notes offered and received bits three times that amount and placed $2.2 billion of ruble for think debt. and in the middle east, qatar and saudi arabia raised $23 billion the sales have helped rich on sales climbed to $46 billion this year, the most since 2007. and incorporates, it's was company had a six part, $4.5 billion deal to refinance its $40 billion takeover. order books were more than four times covered. still with me is jack flaherty, subadra rajappa, and iain stealey. andnt to start with russia talk about when bond investors are going t