Russian Government Bond Index Drops 0.1% to 117.07 Basis Points on Tuesday

16:17; 20 January 2026 year

### Russian Government Bond Index Dips Slightly on Tuesday On Tuesday, the Russian government bond index (MCXRGBI) dropped by 0.1% and was trading at 117.07 basis points. Below is the trading dynamics of the most liquid Federal Loan Bonds (OFZ): - OFZ series № 26247: -0.2% - OFZ series № 26248: -0.1% - OFZ series № 26238: -0.2% - OFZ series № 26246: -0.1% The MCXRGBI index serves as a key indicator of the Russian debt market, reflecting the dynamics of the entire range of government securities. The most liquid OFZ bonds are typically long-term issues with fixed coupons (OFZ-PD), such as OFZ 26248 and OFZ 26245, which account for a large share of trading volume. There are also issues with an indexed nominal value (OFZ-IN) and variable coupons (OFZ-PK), but they have different characteristics and are suitable for different purposes. Important characteristics of liquid OFZ bonds: 1. Fixed coupon bonds (OFZ-PD) are the most in demand due to predictable coupon payments, for example, issues maturing in 2034-2041. 2. Index-linked nominal bonds (OFZ-IN) protect against inflation, but their yield is realized at maturity or sale. 3. Floating coupon bonds (OFZ-PK) have high liquidity, such as OFZ 29014, 29024, 29016. This overview was presented by Alexei Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management of the Faculty of "Higher School of Management" at the Financial University under the Government of the Russian Federation.

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