Russian Government Bond Index MCXRGBI Up 0.1% to 118.43 Basis Points on Wednesday

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MCXRGBI (Russian government bonds index) is up by 0.1% on Wednesday, reaching 118.43 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-term issues with fixed coupons (OFZ-PD), such as OFZ 26248 and OFZ 26245, which have a high share in trading volume, as well as issues with an indexed nominal value (OFZ-IN) and variable coupons (OFZ-PK), each with different characteristics and suitable for different purposes.

MCXRGBI 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): most in demand due to predictable coupon payments, e.g., issues maturing in 2034-2041.

2. OFZ-IN (indexed nominal value): protect against inflation, but their yield is realized at maturity or sale.

3. OFZ-PK (floating coupon): highly liquid, e.g., OFZ 29014, 29024, 29016.

Overview provided by Alexei 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.