61.   Russia has been forced to sell treasury bills at high interest rates to finance its budget deficit.

62.   Russian finances much of its deficit by selling treasury bills to foreign investors.

63.   SBI are similar to treasury bills and are a closely-watched benchmark in Indonesia.

64.   Shorter-dated bonds and treasury bills are most sensitive to changes in key interest rates.

65.   Short-term treasury bills rose as investors shifted their money away from falling longer maturity bonds, traders said.

66.   Shorter-maturity bonds and treasury bills fared better than longer-maturity bonds.

67.   Shares hit hardest by the news were companies which have a heavy composition treasury bills in their portfolios.

68.   Some investors are even betting interest rates on the treasury bills, or cetes, will rise in coming days.

69.   Still, confusion remains about whether income from zero-coupon Russian treasury bills, known as GKOs, is a capital gain or an interest payment, analysts said.

70.   Stocks and local treasury bills also rose on the news.