Bond Market Overview

Tuesday, 04 August 2026

The local sovereign and corporate bond market remains the most active part of the MSE. The diverse nature of the issuers gives the investor plenty of scope to select issues that suit their investment requirements. Liquidity may be tight as bonds of high quality issuers are not always easy to find.

Corporate Bonds (EUR)

Bond	Maturity Date	Volume	Best Bid (EUR)	Best Offer (EUR)	Yield To Maturity (%)	Closing Price (EUR)	Last Trade
3.25% APS 2025-2030	11/19/2030	-	95.00	96.00	4.56%	95	04/08/2026
3.25% AXG 2026 SI	12/20/2026	-	100.00	0.00	3.19%	100	04/08/2026
3.5% AXR 2032	02/06/2032	-	93.50	94.00	4.65%	94.5	04/08/2026
3.5% BOV 2030 S1 T1	08/08/2030	-	93.00	0.00	5.20%	94	04/08/2026
3.5% BOV 2030 S2 T1	08/08/2030	-	92.30	95.00	5.79%	92	04/08/2026
3.5% GO 2031	6/25/2031	-	95.55	96.40	4.54%	95.53	04/08/2026
3.5% SFC 2027	9/13/2027	-	99.00	99.99	5.21%	98.2	04/08/2026
3.65% IHI 2031	12/07/2031	-	93.60	93.80	5.00%	93.8	04/08/2026
3.65% MOF 2028-2031	10/15/2031	-	95.50	96.00	4.76%	95	04/08/2026
3.65% STV 2029	7/29/2029	50,000	95.26	97.59	4.54%	97.58	04/08/2026
3.75% AXG 2029 S2	12/20/2029	-	97.00	98.99	5.06%	96.01	04/08/2026
3.75% BOV 2026-2031	6/15/2031	-	0.00	94.90	4.95%	94.9	04/08/2026
3.75% BRX 2027	12/01/2027	-	97.55	99.65	5.29%	98.06	04/08/2026
3.75% MCY 2027	3/27/2027	-	96.50	98.98	9.48%	96.46	04/08/2026
3.75% PRC 2026	11/23/2026	-	98.07	99.89	4.47%	99.75	04/08/2026
3.75% TMF 2029	6/27/2029	-	95.00	97.50	4.69%	97.5	04/08/2026
3.75% TUM 2027	07/10/2027	-	97.81	100.00	3.74%	100	04/08/2026
3.75% VRT 2027	11/30/2027	-	99.00	99.99	3.94%	99.75	04/08/2026
3.8% HLF 2029	8/27/2029	-	95.70	96.99	4.88%	97	04/08/2026
3.85% HLF 2028	7/24/2028	-	96.53	98.50	4.66%	98.5	04/08/2026
3.9% BRW 2027-2031	07/09/2031	-	95.95	96.25	4.77%	96.25	04/08/2026
3.9% PZC 2026	9/22/2026	-	0.00	100.00	3.77%	100	04/08/2026
4% CBC 2027-2033	11/10/2033	-	0.00	92.50	5.35%	92	04/08/2026
4% CCS 2030	8/19/2030	3,000	95.00	96.43	5.41%	95	04/08/2026
4% EFC 2027	4/28/2027	-	99.00	99.49	4.59%	99.55	04/08/2026
4% EXF 2028	8/20/2028	-	97.11	0.00	4.26%	99.5	04/08/2026
4% HLF 2027	03/11/2027	-	99.00	99.97	5.64%	99	04/08/2026
4% IHI 2026	7/29/2026	-	0.00	0.00	5.12%	99.83	10/06/2026
4% IHI 2026 B	12/20/2026	-	99.30	99.88	6.03%	99.2	04/08/2026
4% LSI 2026-2031	06/02/2031	-	0.00	0.00	4.00%	100	04/08/2026
4% MED 2024-2029 EUR	11/05/2029	-	0.00	98.00	5.02%	97	04/08/2026
4% MIDI 2026	7/27/2026	-	0.00	0.00	37.35%	98.5	10/07/2026
4% MPC 2032 S1/22 T1	6/30/2032	5,000	95.51	98.50	4.29%	98.5	04/08/2026
4% SHM 2026	08/01/2028	5,000	72.00	98.00	5.08%	98	04/08/2026
4% SPF 2029	05/03/2029	8,000	97.01	99.49	4.19%	99.49	04/08/2026
4% STV 2027	10/18/2027	6,000	98.50	99.00	5.44%	98.35	04/08/2026
4.25% CCM 2024-2026	05/08/2026	-	0.00	0.00	16.69%	99.5	23/04/2026
4.25% CLP 2033	8/25/2033	-	98.50	0.00	4.50%	98.5	04/08/2026
4.25% CPHCL 2026	04/12/2026	-	0.00	0.00	54.98%	98.01	30/03/2026
4.25% IZI 2029	4/14/2029	-	98.00	100.00	4.24%	100	04/08/2026
4.25% MCY 2031	3/27/2031	-	94.01	97.89	5.75%	94.01	04/08/2026
4.3% MCY 2032	4/25/2032	-	94.00	95.00	6.21%	91	04/08/2026
4.35% HDS 2026	04/06/2026	-	98.01	99.95	35.36%	98	13/03/2026
4.35% SDF 2027	4/25/2027	-	99.00	100.00	5.71%	99.01	04/08/2026
4.4% CBC 2027 S1/17 T1	07/07/2027	-	99.00	100.00	4.51%	99.89	04/08/2026
4.5% BNF 2027 - 2032	7/29/2032	-	94.51	96.00	5.30%	96	04/08/2026
4.5% END 2029	3/22/2029	-	0.00	97.99	4.53%	99.9	04/08/2026
4.5% G3 2032	04/06/2032	10,000	99.00	100.00	4.50%	100	04/08/2026
4.5% GHM 2027	8/23/2027	-	98.67	101.00	5.84%	98.67	04/08/2026
4.5% HIL 2025	10/16/2025	-	98.00	99.00	7.30%	99	06/12/2025
4.5% IZB 2025	6/30/2025	-	0.00	100.00	4.31%	100	06/12/2025
4.5% MDS 2026 EUR	02/05/2026	-	0.00	0.00	4.31%	100	21/01/2026
4.5% ONA 2028 - 2034	6/21/2034	-	94.02	97.00	5.45%	94.01	04/08/2026
4.5% SHM 2032	08/01/2032	-	50.00	87.50	7.14%	87.5	04/08/2026
4.55% STA 2032	02/07/2032	-	99.50	0.00	4.65%	99.5	04/08/2026
4.65% SMF 2031	4/22/2031	20,000	98.51	100.80	4.45%	100.8	04/08/2026
4.65% SMF 2032	8/23/2032	10,000	98.01	100.00	4.85%	98.99	04/08/2026
4.75% BDPH 2025-2027	11/30/2027	-	100.00	0.00	4.73%	100	04/08/2026
4.75% DNF 2033	11/19/2033	-	0.00	98.27	5.03%	98.29	04/08/2026
4.75% GAP 2025-2027	12/22/2027	29,000	98.50	99.00	5.50%	99	04/08/2026
4.75% GLR 2028	11/30/2028	-	96.00	0.00	6.65%	96	04/08/2026
4.75% KAF 2026-2029	8/23/2029	-	80.00	94.50	6.81%	94.5	04/08/2026
4.8% MMHF 2026	10/14/2026	8,000	0.00	97.00	20.26%	97	04/08/2026
4.85% JDC 2032 S1 T1	11/25/2032	33,000	96.51	99.89	4.87%	99.88	04/08/2026
4.9% CLS 2032	02/09/2032	-	0.00	0.00	4.89%	100	04/08/2026
5% BLF 2026-2029	02/07/2029	-	0.00	98.98	5.43%	98.98	04/08/2026
5% BOV 2029-2034 S1 T1	11/28/2034	64,700	100.00	100.10	5.00%	100	04/08/2026
5% BSB 2029	6/28/2029	-	99.00	100.00	5.00%	100	04/08/2026
5% CFE 2028-2033	01/06/2033	4,900	98.00	98.70	5.24%	98.7	04/08/2026
5% CVS 2026-2029	03/08/2029	-	99.00	99.50	5.20%	99.5	04/08/2026
5% DZF 2026	10/07/2026	-	0.00	98.99	21.54%	97.1	04/08/2026
5% FES 2029	3/18/2029	-	0.00	98.00	5.62%	98.5	04/08/2026
5% HHF 2023-2028	5/19/2028	-	0.00	0.00	4.99%	99.99	27/10/2025
5% HLF 2029	7/17/2029	-	100.60	101.30	4.81%	100.5	04/08/2026
5% HLF 2033	02/06/2033	-	101.00	101.99	4.63%	101.99	04/08/2026
5% HRZ 2026-2029	3/15/2029	-	0.00	99.99	4.99%	100	04/08/2026
5% IZB 2027 - 2032	9/15/2032	-	93.01	97.75	5.90%	95.5	04/08/2026
5% LLF 2028	7/29/2028	-	90.00	95.90	7.30%	95.9	04/08/2026
5% MDS 2029	12/20/2029	-	100.00	102.00	4.99%	100	04/08/2026
5% MED 2022-2027 EUR	10/13/2027	-	98.01	99.50	5.43%	99.5	04/08/2026
5% MRN 2032	12/16/2032	-	100.15	103.00	4.81%	101	04/08/2026
5% VDH 2032	12/16/2032	-	95.00	96.97	5.57%	96.97	04/08/2026
5.00% BOV 2030-2035 S1 T1	12/05/2035	-	99.50	100.00	5.06%	99.5	04/08/2026
5.00% BOV 2030-2035 S2 T1	07/07/2035	75,000	99.50	100.25	4.96%	100.25	04/08/2026
5.1% 6PM 2025	7/31/2025	-	0.00	99.99	12.44%	99	06/12/2025
5.10% PLG 2028 -2030	11/19/2030	-	100.00	100.90	4.96%	100.5	04/08/2026
5.2% HHF 2035	10/28/2035	-	101.00	101.99	5.06%	101	04/08/2026
5.2% SDF 2031 S1/T1	2/15/2031	-	101.30	102.00	4.87%	101.3	04/08/2026
5.2% SDF 2031 S1/T2	2/15/2031	-	99.75	101.45	4.83%	101.45	04/08/2026
5.2% SDF 2031 S1/T3	2/15/2031	-	100.30	0.00	5.19%	100	04/08/2026
5.2% TUM 2031-2034	11/22/2034	-	100.25	101.29	5.20%	100	04/08/2026
5.2% VBL 2030-2034	10/25/2034	100	100.50	0.00	5.17%	100.2	04/08/2026
5.25% ACM 2028 -2030	8/20/2030	43,900	0.00	100.90	5.00%	100.9	04/08/2026
5.25% BBP 2033 S1 T1	04/03/2033	-	100.25	0.00	4.98%	101.49	04/08/2026
5.25% CBC 2025 S2 T1	12/30/2025	-	0.00	101.00	5.13%	100	06/12/2025
5.25% IHI 2036 S1 T1	7/14/2036	5,000	101.00	103.00	4.86%	103	04/08/2026
5.25% KLF 2027	7/31/2027	-	0.00	0.00	5.25%	100	04/08/2026
5.25% MIH 2027	07/06/2027	-	99.75	100.50	4.66%	100.5	04/08/2026
5.25% QWR 2033	2/27/2033	-	102.00	0.00	4.88%	102	04/08/2026
5.3% GTR 2030	07/04/2030	52,200	101.50	0.00	4.87%	101.5	04/08/2026
5.3% MCY 2034	09/10/2034	-	98.01	100.00	5.30%	100	04/08/2026
5.30% IHI 2035	04/01/2035	7,500	101.90	101.95	5.02%	101.9	04/08/2026
5.35% BDPH 2032	2/21/2032	-	99.01	100.00	5.34%	100	04/08/2026
5.35% CPHCL 2035	12/18/2035	-	100.55	101.58	5.28%	100.5	04/08/2026
5.35% DSM 2028	10/28/2028	-	75.00	90.00	10.59%	90	04/08/2026
5.35% HMV 2031-2034	7/26/2034	-	102.00	0.00	5.10%	101.6	04/08/2026
5.35% JMB 2035	11/07/2035	7,100	100.75	101.95	5.26%	100.6	04/08/2026
5.35% MAR 2029-2031	6/27/2031	2,000	100.01	101.19	5.34%	100.01	04/08/2026
5.4% AGB 2035 S1 T1	10/10/2035	-	0.00	101.58	5.40%	100	04/08/2026
5.4% BBT 2032-2036	04/09/2036	-	101.80	102.68	5.16%	101.79	04/08/2026
5.4% ECL 2031	12/30/2031	5,000	99.00	101.00	5.39%	100.03	04/08/2026
5.5% 9HC 2027	6/19/2027	-	0.00	101.00	6.67%	99	04/08/2026
5.5% ACS 2034	10/31/2034	-	102.52	103.99	5.12%	102.5	04/08/2026
5.5% AES 2036 S1 T2	10/08/2036	6,300	100.03	101.25	5.49%	100.03	04/08/2026
5.5% FTD 2036	2/27/2036	-	101.25	102.00	5.22%	102	04/08/2026
5.5% IGF 2024-2027	5/17/2027	-	0.00	0.00	6.34%	99	17/02/2026
5.5% IZI 2036	04/02/2036	-	101.00	101.97	5.23%	101.99	04/08/2026
5.5% JUE 2035	6/27/2035	-	101.50	102.00	5.50%	100.01	04/08/2026
5.5% QLZ 2030 -2035	7/22/2035	-	99.01	102.00	5.50%	100	04/08/2026
5.5% QLZ 2030 -2035 S1 T2	7/22/2035	-	98.01	99.99	5.78%	98.09	10/07/2026
5.5% QLZ 2030 -2035 S1T1	7/22/2035	-	0.00	0.00	5.50%	100	22/07/2026
5.5% QLZ 2030 -2035 S1T1	7/22/2035	-	98.03	99.99	5.79%	98.03	10/07/2026
5.5% TST 2029	01/09/2029	-	0.00	98.00	5.94%	99	04/08/2026
5.5% YCT 2021-2025	9/13/2025	-	0.00	0.00	16.49%	98	07/09/2025
5.50% MDS 2031-2036	6/30/2036	-	102.75	0.00	5.14%	102.75	04/08/2026
5.50% TTM 2032	04/02/2032	40,000	98.61	101.87	5.70%	99	04/08/2026
5.6% JDC 2035	5/23/2035	15,000	100.00	101.99	5.60%	100	04/08/2026
5.7% AGB 2036 S2T1	6/25/2036	15,000	100.10	101.00	5.56%	101	04/08/2026
5.7% MRK 2033	08/12/2033	9,800	99.80	99.99	5.70%	99.99	04/08/2026
5.70% CBC 2030-2035 S1 T1	12/04/2035	-	0.00	98.75	5.77%	99.5	04/08/2026
5.75% AQC 2027	12/21/2027	-	0.00	100.00	5.72%	100	04/08/2026
5.75% BDPH 2027-2029	04/12/2029	-	100.01	102.48	4.73%	102.49	04/08/2026
5.75% CAV 2032 S1T1	5/26/2032	-	102.00	0.00	5.14%	102.99	04/08/2026
5.75% IGI 2031-2036	02/12/2036	-	0.00	98.89	5.90%	98.89	04/08/2026
5.75% PHN 2028-2033	12/30/2033	11,000	101.10	102.00	5.49%	101.5	04/08/2026
5.75% PLG 2028	11/23/2028	-	100.03	101.50	5.03%	101.5	04/08/2026
5.8% AES 2036 S1 T1	03/01/2036	-	100.11	101.75	5.78%	100.11	04/08/2026
5.8% APS 2028-2033 S1 T1	12/01/2033	-	103.00	0.00	5.29%	103	04/08/2026
5.8% GPH 2032	4/22/2032	-	99.11	101.00	5.79%	100	04/08/2026
5.85% AXG 2033	11/07/2033	-	103.10	0.00	5.33%	103.05	04/08/2026
5.85% BGA 2034	5/14/2034	-	101.01	104.25	5.68%	101.01	04/08/2026
5.85% MIH 2028	7/31/2028	-	100.10	102.00	5.79%	100.1	04/08/2026
5.9% TGS 2024-2026	7/22/2026	-	0.00	101.00	5.88%	100	06/12/2025
6% IHI 2033	11/14/2033	-	102.50	104.00	5.65%	102	04/08/2026
6% JDC 2033 S2 T1	7/19/2033	30,000	101.00	102.00	5.64%	102	04/08/2026
6% LDB 2030-2035 S1 T1	7/23/2035	-	0.00	101.75	6.00%	100	04/08/2026
6% MUL 2032 S1 T1	4/27/2032	-	0.00	0.00	5.99%	100	04/08/2026
6% PHC 2033	02/03/2033	-	101.50	101.75	5.62%	102	04/08/2026
6.25% AST 2033	6/16/2033	-	101.13	102.99	6.06%	101	04/08/2026
6.25% CMF 2034	2/23/2034	-	101.50	102.49	6.15%	100.55	04/08/2026
6.25% GPH 2030	03/10/2030	-	100.13	102.09	5.58%	102.09	04/08/2026
6.25% TGS 2030 -2032	2/14/2032	-	100.50	101.00	6.13%	100.5	04/08/2026
7.25% HRT 2025-2027	11/28/2027	-	0.00	99.90	7.41%	99.75	04/08/2026

* Where more than one maturity date exists, YTW is calculated on earliest maturity date.

Corporate Bonds (GBP)

Bond	Maturity Date	Volume	Best Bid (GBP)	Best Offer (GBP)	Yield To Maturity (%)	Yield To Worst (%) *	Closing Price (GBP)	Last Trade	Ranking
4% MED 2024-2029 GBP	11/05/2029	-	0.00	96.50	5.19%		96.5	04/08/2026
5% MED 2022-2027 GBP	10/13/2027	-	0.00	0.00	4.98%		100	04/08/2026

* Where more than one maturity date exists, YTW is calculated on earliest maturity date.

Corporate Bonds (USD)

Bond	Maturity Date	Volume	Best Bid (USD)	Best Offer (USD)	Yield To Maturity (%)	Yield To Worst (%) *	Closing Price (USD)	Last Trade	Ranking
5.75% MDS 2026 USD	02/05/2026	-	0.00	0.00	5.45%		100	21/01/2026
6.50% MDS 2031-2036	6/30/2036	-	0.00	0.00	6.15%		102.5	04/08/2026

* Where more than one maturity date exists, YTW is calculated on earliest maturity date.

Government Bonds (EUR)

Bond	Maturity	Volume Traded	Closing Price (Trading)	Central Bank Malta (Closing Bid Price)	Yield To Maturity (%) *
0.10% MGS 2026 (IV)	7/20/2026	-	98.23	0.00	29.74%
0.25% MGS 2026 (III)	11/18/2026	-	98.08	98.08	7.11%
0.40% MGS 2026 (II)	10/20/2026	-	98.16	0.00	9.42%
0.40% MGS 2027 (IV)	11/19/2027	-	96.72	0.00	3.02%
0.5% MGS 2025 (II)	11/8/2025	-	98.61	0.00	4.03%
0.75% MGS 2025 (III)	7/17/2025	-	103.31	0.00	-34.32%
0.80% MGS 2027 (III)	4/29/2027	-	98.00	0.00	3.59%
0.90% MGS 2027 (V)	08/12/2027	-	97.71	0.00	3.20%
0.90% MGS 2031 (V)	07/11/2031	-	89.39	0.00	3.25%
1.0% MGS 2031 (II)	4/23/2031	-	89.79	0.00	3.36%
1.00% MGS 2035 (II)	8/23/2035	-	77.79	77.40	3.94%
1.20% MGS 2037 (I)	5/13/2037	-	76.61	0.00	3.88%
1.40% MGS 2046 (I)	8/20/2046	-	60.64	0.00	4.37%
1.5% MGS 2027 (I)	6/15/2027	-	99.16	0.00	2.49%
1.50% MGS 2045 (I)	10/22/2045	-	62.72	0.00	4.39%
1.60% MGS 2032 (III)	05/03/2032	-	90.18	0.00	3.50%
1.70% MGS 2028 (IV)	08/04/2028	-	97.70	0.00	2.89%
1.80% MGS 2051 (I)	8/28/2051	-	59.63	59.63	4.50%
1.85% MGS 2029 (III)	5/30/2029	500,000	96.92	0.00	3.00%
2.00% MGS 2051 (II)	07/10/2051	-	62.90	62.76	4.49%
2.1% MGS 2039 (I)	8/24/2039	-	81.66	0.00	3.91%
2.10% MGS 2032 (IV)	4/15/2032	-	92.85	0.00	3.50%
2.2% MGS 2035 (I)	11/24/2035	-	88.15	0.00	3.72%
2.3% MGS 2029 (II)	7/24/2029	-	97.71	0.00	3.11%
2.4% MGS 2041 (I)	7/25/2041	-	80.00	0.00	4.22%
2.40% MGS 2052 (I)	8/13/2052	-	75.22	77.00	3.93%
2.5% MGS 2036 (I)	11/17/2036	-	88.44	0.00	3.87%
2.55% MGS 2030 (V)	02/06/2030	-	97.88	0.00	3.19%
2.55% MGS 2030 (V) A	02/06/2030	-	99.19	0.00	2.77%
2.55% MGS 2030 (V) r	02/06/2030	-	100.00	0.00	2.55%
2.60% MGS 2028 (V)	5/22/2028	-	99.54	0.00	2.86%
2.60% MGS 2047 (I)	9/27/2047	-	89.60	0.00	3.29%
2.80% MGS 2030 (III)	2/27/2030	-	98.62	0.00	3.21%
2.9% MGS 2032 (VI)	10/24/2032	-	95.97	0.00	3.63%
3% MGS 2040 (I)	06/11/2040	-	87.76	0.00	4.17%
3.00% MGS 2030 (IV)	11/05/2030	-	98.85	0.00	3.29%
3.15% MGS 2027 (VII)	5/20/2027	-	100.20	99.50	2.89%
3.25% MGS 2034 (IV)	09/05/2034	50,000	99.99	0.00	3.25%
3.35% MGS 2029 (V)	11/27/2029	-	101.00	101.00	3.03%
3.4% MGS 2027 (VI)	9/24/2027	-	101.08	0.00	2.43%
3.40% MGS 2035 (IV)	7/16/2035	35,200	97.57	0.00	3.72%
3.40% MGS 2035 (IV) A	7/16/2035	-	98.24	0.00	3.62%
3.40% MGS 2035 (IV) FI A	7/16/2035	-	98.18	0.00	3.63%
3.40% MGS 2035 (IV) r	7/16/2035	-	100.00	0.00	3.40%
3.40% MGS 2042 (I)	8/26/2042	-	93.00	65.00	3.99%
3.50% MGS 2028 (VI)	07/07/2028	-	100.95	0.00	2.99%
3.50% MGS 2034 (III)	7/31/2034	40,000	100.49	100.49	3.43%
3.50% MGS 2035 (III)	12/18/2035	30,000	99.90	0.00	3.51%
3.50% MGS 2035 (III) A	12/18/2035	-	100.34	0.00	3.46%
3.50% MGS 2035 (III) r	12/18/2035	281,900	101.40	101.40	3.34%
3.55% MGS 2026 (V)	07/08/2026	-	100.08	0.00	2.07%
3.7% MGS 2030 (II)	11/25/2030	-	106.09	0.00	2.21%
3.75% MGS 2033 (III)	8/17/2033	-	104.75	0.00	3.00%
3.80% MGS 2036 (III) A	04/08/2036	-	99.38	0.00	3.88%
3.80% MGS 2036 (III) r	04/08/2036	-	101.80	100.00	3.58%
3.80% MGS 2040 (II)	10/16/2040	-	96.01	96.10	4.17%
3.80% MGS 2040 (II) A	10/16/2040	-	99.65	0.00	3.83%
3.80% MGS 2040 (II) FI A	10/16/2040	-	100.10	0.00	3.79%
3.80% MGS 2040 (II) FI r	10/16/2040	-	98.00	0.00	3.98%
3.80% MGS 2040 (II) r	10/16/2040	3,000	100.00	99.74	3.80%
3.85% MGS 2026 (VI)	08/05/2026	-	101.19	0.00	-13.01%
3.95% MGS 2028 (VII)	08/08/2028	-	104.12	101.90	1.85%
4% MGS 2032 (VII)	3/30/2032	25,000	103.00	0.00	3.41%
4.00% MGS 2033 (IV)	12/05/2033	1,600	102.98	102.92	3.53%
4.00% MGS 2038 (I)	8/25/2038	111,500	100.00	99.00	4.00%
4.00% MGS 2043 (I)	11/26/2043	4,000	99.00	0.00	4.08%
4.1% MGS 2034 (I)	10/18/2034	8,600	103.26	101.10	3.64%
4.10% MGS 2041 (II)	11/28/2041	540,000	99.05	0.00	4.18%
4.10% MGS 2041 (II) A	11/28/2041	-	100.00	99.66	4.10%
4.10% MGS 2041 (II) r	11/28/2041	-	100.00	99.66	4.10%
4.3% MGS 2033 (I)	08/01/2033	-	103.77	103.50	3.68%
4.30% MGS 2038 (II)	11/15/2038	-	103.83	0.00	3.90%
4.45% MGS 2032 (II)	09/03/2032	-	104.56	0.00	3.61%
4.5% MGS 2028 (II)	10/25/2028	-	103.09	0.00	3.05%
4.65% MGS 2032 (I)	7/22/2032	800	106.83	0.00	3.38%
4.8% MGS 2028 (I)	09/11/2028	45,000	103.70	103.86	2.97%
5.1% MGS 2029 (I)	10/01/2029	-	105.85	0.00	3.14%
5.2% MGS 2031 (I)	9/16/2031	-	108.14	0.00	3.45%
5.25% MGS 2030 (I)	6/23/2030	136,300	107.74	107.00	3.12%
7% MGS 2025 (I)	12/31/2025	-	149.70	0.00	-57.15%
7% MGS 2026 (I)	12/31/2026	-	155.80	0.00	-67.91%
7% MGS 2032 (V)	12/31/2032	-	100.00	0.00	7.00%
7% MGS 2034 (II)	12/31/2034	-	100.00	100.00	7.00%
7% MGS 2036 (II)	12/31/2036	-	100.00	0.00	7.00%

* Where more than one maturity date exists, YTM is calculated on earliest maturity date.