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Dynamics of the ruble bond market. Still cons (excluding VDO)



Dynamics of the ruble bond market.  Still cons (excluding VDO)

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)

Mark Savichenko

@AndreyHohrin
TELEGRAM t.me/probonds
YOUTUBE https://www.youtube.com/c/PRObonds
https://ivolgacap.ru/
www.probonds.ru



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