Rising rates in the money market continue to negatively affect bond yields. Last week, all the bond indices under review, except for the VDO, showed negative yields again.
• Index of government bonds with maturities from 1 to 3 years (Cbonds-GBI RU 1-3Y) decreased by 0.13%
• Municipal bond index based on the 20 most liquid securities (Cbonds-Muni) down 0.05%
• The index of corporate bonds with maturities from 1 to 3 years (Cbonds-CBI RU 1-3Y) decreased by 0.12%
• Index of high yield bonds (Cbonds-CBI RU High Yield) increased by 0.26%
At 31.03. The HDI index is the only one showing a positive yield since the beginning of the year + 2.01%. OFZs lose -0.92%, Municipal bonds -0.62%, and Corporate bonds -0.05%
The bond indices of the Moscow Exchange also showed negative yields.
• The broadest bond index (RUABITR): OFZ, sub-federal and municipal bonds, as well as bonds of Russian corporate issuers decreased by 0.05% (-3.03% YTD)
• The Moscow Exchange corporate bond index (RUCBITR) decreased by 0.15% (-0.91% YTD)
• The Moscow Exchange Government Bonds Index (RGBITR) decreased by 0.01% (-3.48% YTD)
• The index of municipal bonds of the Moscow Exchange (RUMBITR) decreased by 0.074% (-0.73% YTD)