OFZ

Russian federal loan bonds, known as OFZ, are drawing fresh attention after Vedomosti reported that non-resident investment in the instruments fell by a further 20 billion roubles in September. Discussion is also focusing on whether long-dated OFZ make sense to buy, with commentators comparing them to US Treasuries, while Finam noted solid demand at the October 7 auction but said the market still demands a risk premium.

Discussion in Russia is focused on earning passive income through OFZ government bonds. A new ranking highlights the six highest-yielding OFZ issues, noting that returns have declined but remain attractive for conservative investors seeking steady income without active trading.