VTB My Investments expert assessed the attractiveness of long-term OFZs

Long-term government bonds have become an attractive investment tool in the context of the ongoing cycle of monetary policy easing, said Alexander Strogalev, investment consultant at VTB My Investments.

Speaking at the VTB forum "Russia is calling!", he noted that the correction in the debt market opens a window of opportunity for buying OFZs before the expected increase in quotations. "The correction in the OFZ market after the meetings of the Bank of Russia in September makes it possible to buy securities at interesting prices," Strogalev said.

He also called floating coupon bonds an interesting tool for conservative investors. Their yield is always linked to the key rate or the money market rate and exceeds it by the premium, the amount of which depends on the borrower's credit quality. Among the advantages of floaters, Strogalev highlighted the opportunity to receive market returns with a reduced risk of price fluctuations, monthly coupon payments and insurance against changes in market sentiment. "The yields of floaters are almost always higher than the yields of classic bonds from the same issuer," the expert emphasized.

The expert also noted the prospects of quasi-currency bonds. In 2025, the yields of these securities in the domestic market reached their lowest levels since 2022. The market is strongly influenced by the dynamics of OFZ yields and the ruble exchange rate, and its key feature is the "closed perimeter" due to the lack of capital flow, Strogalev explained.

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