Russian bond index MCXRGBI falls 0.2% to 110.46 basis points on Monday

16:11; 20 July 2026 year

### Russian Government Bond Index Dips 0.2% on Monday The Russian Government Bond Index (MCXRGBI) declined by 0.2% on Monday, reaching a level of 110.46 basis points. Trading activity for the most liquid Federal Loan Bonds (OFZ) was as follows: - OFZ Series No. 26247: -0.3% - OFZ Series No. 26248: -0.4% - OFZ Series No. 26233: -0.3% - OFZ Series No. 26243: -0.3% The MCXRGBI serves as a key indicator of the Russian debt market, reflecting the dynamics of the entire spectrum 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), each with different characteristics and suited for different purposes. Key characteristics of liquid OFZ bonds: 1. **OFZ-PD (Fixed-Coupon Bonds)**: The 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 yield is realized only at maturity or sale. 3. **OFZ-PK (Floating-Coupon Bonds)**: Highly liquid, such as OFZ 29014, 29024, and 29016. This overview was presented by Alexey Grishchenko, Ph.D., Professor at the Department of Operational and Sectoral Management at the Higher School of Management, Financial University under the Government of the Russian Federation.

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