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2025-12-17 19:15:49
[Strong Demand at Russian Treasury Bond Auction, 2038 Bonds Oversubscribed] ⑴ The Russian Ministry of Finance auctioned OFZ bonds maturing in 2038 on Wednesday, with a final issuance (allocation) size of 26.594 billion rubles. ⑵ Market demand was strong, with total bids reaching 59.298 billion rubles, an oversubscription rate of over 2.2 times. ⑶ The auction raised 25.395 billion rubles, with a closing yield of 14.61%, and an average yield of 14.61%. ⑷ The high yield reflects the risk premium demanded by the market for Russian sovereign debt, but the strong demand also indicates its continued attractiveness in the domestic capital market. ⑸ This successful issuance helps the Russian government achieve its domestic financing targets and provides a new benchmark for the pricing of long-term government bonds.
