Russian Government Bond Index MCXRGBI Falls 0.1% to 116.73 Basis Points on Wednesday

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MCXRGBI (Russian government bonds index) is down by 0.1% on Wednesday, standing at 116.73 basis points.

Below is the trading dynamics of the most liquid federal loan bonds (OFZ).

- OFZ series No. 26247: -0.1%

- OFZ series No. 26248: -0.1%

- OFZ series No. 26233: -0.1%

- OFZ series No. 26243: +0.1%

Liquid OFZ bonds typically include long-dated issues with fixed coupons (OFZ-PD), such as OFZ 26248 and OFZ 26245, which dominate trading volumes, as well as bonds with indexed nominal values (OFZ-IN) and floating coupons (OFZ-PK), though they have different characteristics and suit different investment objectives.

MCXRGBI, the government bond index, serves as a key indicator of the Russian debt market, reflecting the dynamics of the entire spectrum of government securities.

Key characteristics of liquid OFZ bonds:

1. OFZ-PD (fixed coupon bonds) - most in demand due to predictable coupon payments, for example, issues maturing between 2034 and 2041.

2. OFZ-IN (indexed nominal bonds) - protect against inflation, but their returns are realized only at maturity or sale.

3. OFZ-PK (floating coupon bonds) - highly liquid, for example, OFZ 29014, 29024, 29016.

This overview was presented by Alexey Grishchenko, Ph.D., 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.