Russian Government Bond Index MCXRGBI Drops 0.1% to 113.36 Points on Wednesday

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MCXRGBI Index (Russian Government Bonds) is down 0.1% on Wednesday, standing at 113.36 basis points.

Below is the trading dynamics of the most liquid Federal Loan Bonds (OFZ).

- OFZ Series No. 26247: -0.2%

- OFZ Series No. 26248: -0.1%

- OFZ Series No. 26233: +0.2%

- 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 dominate trading volumes, as well as issues with indexed nominal value (OFZ-IN) and floating coupons (OFZ-PK), each with distinct characteristics and purposes.

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 (with fixed coupon) - most in demand due to predictable coupon payments, for example, issues maturing in 2034-2041.

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

3. OFZ-PK (with floating coupon) - have high liquidity, for example, OFZ 29014, 29024, 29016.

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