Russian Government Bond Index MCXRGBI Up 0.1% to 119.06 on Wednesday

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MCXRGBI Index (Russian government bonds) rises by 0.1% on Wednesday, reaching 119.06 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 +0.3%.

Liquid OFZ bonds are typically long-term OFZ issues with fixed coupons (OFZ-PD), such as OFZ 26248 and OFZ 26245, which dominate trading volumes. Additionally, there are issues with an indexed nominal value (OFZ-IN) and variable coupons (OFZ-PK), each with different characteristics suitable for different investment goals.

The Government Bond Index 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, for example, 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, such as OFZ 29014, 29024, 29016.

The overview was presented by Alexey Grishchenko, Doctor of Economics, Professor at the Department of Operational and Sectoral Management at the Faculty of "Higher School of Management" of the Financial University under the Government of the Russian Federation.