Bond Market Overview

Wednesday, 30 October 2024

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 (#N/A)

Bond	Maturity Date	Volume	Best Bid (#N/A)	Best Offer (#N/A)	Closing Price (#N/A)	Last Trade	Ranking
5% Hal Mann Vella Group plc Secured € 2024 (xd)	#N/A	No Trades	-	-	100	30/09/2024	Secured
5.3% Mariner Finance plc Unsecured € 2024	#N/A	No Trades	-	-	100	11/06/2024	Sr Unsecured
6% AX Investments Plc € 2024 (xd)	#N/A	No Trades	-	-	100	05/02/2024	Sr Unsecured
6% International Hotel Investments plc € 2024	#N/A	No Trades	-	-	100	15/04/2024	Sr Unsecured

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

Corporate Bonds (EUR)

Bond	Maturity Date	Volume	Best Bid (EUR)	Best Offer (EUR)	Yield To Maturity (%)	Yield To Worst (%) *	Closing Price (EUR)	Last Trade	Ranking
3.25% APS Bank plc Unsecured Sub € 2025-2030	19/11/2030	No Trades	-	98.00	4.06%	7.60%	95.75	15/10/2024	Subordinated
3.25% AX Group plc Unsec Bds 2026 Series I	20/12/2026	No Trades	-	97.99	4.50%	4.50%	97.5	21/10/2024	Unsecured
3.5% AX Real Estate plc Unsecured € 2032	06/02/2032	No Trades	93.00	94.00	4.65%	4.65%	93	29/10/2024	Sr Unsecured
3.5% Bank of Valletta plc € Notes 2030 S1 T1	08/08/2030	No Trades	-	94.95	4.49%	4.49%	95	27/09/2024	Subordinated
3.5% Bank of Valletta plc € Notes 2030 S2 T1	08/08/2030	No Trades	90.00	97.00	3.91%	3.91%	97.9	10/10/2024	Subordinated
3.5% GO plc Unsecured € 2031	25/06/2031	5,000	95.50	97.70	3.85%	3.85%	97.99	30/10/2024	Unsecured
3.5% Simonds Farsons Cisk plc Unsecured € 2027	13/09/2027	3,700	100.00	100.25	3.50%	3.50%	100	30/10/2024	Unsecured
3.65% IHI plc Unsecured € 2031	07/12/2031	12,700	94.00	94.39	4.66%	4.66%	94	30/10/2024	Unsecured
3.65% Mizzi Organisation Finance plc Unsecured € 2028-2031	15/10/2031	No Trades	91.00	97.98	4.16%	4.50%	96.99	28/10/2024	Unsecured
3.65% Stivala Group Finance plc Secured € 2029	29/07/2029	No Trades	96.51	99.00	3.88%	3.88%	99	16/10/2024	Secured
3.75% AX Group plc Unsec Bds 2029 Series II	20/12/2029	No Trades	95.00	99.49	4.87%	4.87%	95	24/10/2024	Unsecured
3.75% Bank of Valletta plc Unsecured Sub € 2026-2031	15/06/2031	No Trades	-	95.50	4.54%	6.72%	95.5	10/10/2024	Subordinated
3.75% Bortex Group Finance plc Unsecured € 2027	01/12/2027	No Trades	96.55	99.40	3.78%	3.78%	99.9	27/09/2024	Sr Unsecured
3.75% Mercury Projects Finance plc Secured € 2027	27/03/2027	No Trades	97.00	99.99	3.75%	3.75%	99.99	29/10/2024	Secured
3.75% Premier Capital plc Unsecured € 2026	23/11/2026	No Trades	96.27	97.36	4.13%	4.13%	99.25	29/10/2024	Unsecured
3.75% TUM Finance plc Secured € 2029	27/06/2029	No Trades	95.00	97.00	4.63%	4.63%	96.38	28/10/2024	Secured
3.75% Tumas Investments plc Unsecured € 2027	10/07/2027	No Trades	96.57	98.00	5.14%	5.14%	96.57	24/10/2024	Sr Unsecured
3.75% Virtu Finance plc Unsecured € 2027	30/11/2027	No Trades	97.25	99.50	4.73%	4.73%	97.25	29/10/2024	Sr Unsecured
3.8% Hili Finance Company plc Unsecured € 2029	27/08/2029	2,500	96.00	98.00	4.74%	4.74%	96	30/10/2024	Unsecured
3.85% Hili Finance Company plc Unsecured € 2028	24/07/2028	No Trades	98.00	98.79	4.44%	4.44%	98	29/10/2024	Unsecured
3.9% Browns Pharma Holdings plc Unsec Call € 2027-2031	09/07/2031	No Trades	97.10	98.50	3.99%	4.11%	99.47	17/10/2024	Unsecured
3.9% Gap Group plc Secured € 2024-2026	30/12/2026	No Trades	-	99.50	3.89%	3.78%	100	18/10/2024	Secured
3.9% Plaza Centres plc Unsecured € 2026	22/09/2026	No Trades	-	98.50	4.80%	4.80%	98.4	18/10/2024	Sr Unsecured
4% Cablenet Communication Systems plc Unsecured € 2030	19/08/2030	6,000	96.01	98.00	4.40%	4.40%	98	30/10/2024	Unsecured
4% Central Business Centres plc Unsecured € 2027-2033 (xd)	10/11/2033	No Trades	-	97.00	4.35%	4.93%	97.45	16/09/2024	Unsecured
4% Eden Finance plc Unsecured € 2027	28/04/2027	No Trades	99.30	100.00	3.99%	3.99%	100	24/10/2024	Sr Unsecured
4% Exalco Finance plc Secured € 2028	20/08/2028	No Trades	100.00	101.00	4.00%	4.00%	100	23/10/2024	Secured
4% Hili Finance Company plc Unsecured € 2027	11/03/2027	No Trades	97.50	100.00	4.45%	4.45%	99	28/10/2024	Sr Unsecured
4% International Hotel Investments plc Secured € 2026	29/07/2026	No Trades	97.50	99.50	4.29%	4.29%	99.5	28/10/2024	Sr Unsecured
4% International Hotel Investments plc Unsecured € 2026	20/12/2026	13,700	-	98.50	5.52%	5.52%	97	30/10/2024	Sr Unsecured
4% LifeStar Insurance Plc Unsecured Subordinated € 2026-2031	02/06/2031	No Trades	-	99.50			0	-	Subordinated
4% Malta Properties Company Plc Sec € 2032 S1/22 T1	30/06/2032	15,000	99.75	100.00	4.01%	4.01%	99.95	30/10/2024	Secured
4% MeDirect Bank (Malta) plc Sub Unsecured € 2024-2029 (xd)	05/11/2029	No Trades	96.00	97.90	4.68%	221.51%	97	29/10/2024	Subordinated
4% MIDI plc Secured € 2026	27/07/2026	No Trades	97.21	99.00	3.99%	3.99%	100	29/10/2024	Secured
4% Shoreline Mall plc Secured € 2026	01/08/2026	No Trades	-	99.50	5.21%	5.21%	98	28/10/2024	Secured
4% SP Finance plc Secured € 2029	03/05/2029	No Trades	99.50	-	4.12%	4.12%	99.5	29/10/2024	Secured
4% Stivala Group Finance plc Secured € 2027	18/10/2027	40,100	97.50	99.50	4.18%	4.18%	99.5	30/10/2024	Secured
4.15% Phoenicia Finance Company plc Unsecured € 2023-2028	15/12/2024	No Trades	-	-	4.00%	4.00%	100	19/08/2024	Sr Unsecured
4.25% Best Deal Properties Holding plc Secured € 2024	12/12/2024	No Trades	-	-	4.10%	4.10%	100	03/05/2024	Secured
4.25% ClearflowPlus plc Unsecured € Bonds 2033	25/08/2033	No Trades	101.00	101.99	4.25%	4.25%	100	22/10/2024	Unsecured
4.25% CPHCL Finance plc Unsecured € 2026	12/04/2026	8,000	97.40	99.95	4.27%	4.27%	99.95	30/10/2024	Sr Unsecured
4.25% IZI Finance plc Unsecured € 2029	14/04/2029	No Trades	98.00	100.00	4.75%	4.75%	98	28/10/2024	Unsecured
4.25% Mercury Projects Finance plc Secured € 2031	27/03/2031	No Trades	97.44	99.89	4.25%	4.25%	99.99	18/10/2024	Secured
4.3% Mercury Projects Finance plc Secured € 2032	25/04/2032	No Trades	99.00	99.99	4.30%	4.30%	99.99	28/10/2024	Secured
4.35% Hudson Malta plc Unsecured € 2026	06/04/2026	No Trades	-	100.00	4.33%	4.33%	100	25/10/2024	Sr Unsecured
4.35% SD Finance plc Unsecured € 2027	25/04/2027	No Trades	101.00	101.35	3.91%	3.91%	101	29/10/2024	Sr Unsecured
4.4% Central Business Centres plc Unsecured € 2027 S1/17 T1	07/07/2027	No Trades	-	100.95	4.01%	4.01%	100.95	24/10/2024	Sr Unsecured
4.5% BNF Bank plc Unsecured Sub Bonds 2027-2032	29/07/2032	No Trades	-	99.99	4.65%	4.89%	99	15/10/2024	Subordinated
4.5% Endo Finance plc Unsecured € 2029	22/03/2029	No Trades	-	100.00	6.94%	6.94%	91	16/09/2024	Sr Unsecured
4.5% G3 Finance plc Secured € 2032	06/04/2032	No Trades	97.00	-	4.50%	4.50%	100	23/10/2024	Secured
4.5% Grand Harbour Marina plc Unsecured € 2027	23/08/2027	No Trades	98.30	100.00	5.17%	5.17%	98.26	25/10/2024	Sr Unsecured
4.5% Hili Properties plc Unsecured € 2025	16/10/2025	7,700	99.00	101.25	5.59%	5.59%	99	30/10/2024	Sr Unsecured
4.5% Izola Bank plc Unsecured € 2025	30/06/2025	No Trades	-	-	4.43%	4.43%	100	22/07/2024	Unsecured
4.5% MedservRegis plc Unsecured € 2026	05/02/2026	No Trades	-	-	4.90%	4.90%	99.5	21/10/2024	Sr Unsecured
4.5% Shoreline Mall plc Secured € 2032	01/08/2032	No Trades	-	97.50	4.89%	4.89%	97.5	28/10/2024	Secured
4.50% The Ona plc Secured € 2028-2034	21/06/2034	No Trades	-	101.50	4.30%	4.30%	101.5	25/10/2024	Secured
4.55% St Anthony Co plc Secured € 2032	07/02/2032	No Trades	98.05	101.38	4.87%	4.87%	98.05	24/10/2024	Secured
4.65% Smartcare Finance plc Secured € 2031	22/04/2031	No Trades	97.00	100.50	5.20%	5.20%	97	24/10/2024	Secured
4.65% Smartcare Finance plc Secured € 2032	23/08/2032	No Trades	-	-	4.80%	4.80%	99	17/10/2024	Secured
4.75% Best Deal Properties Holding Plc Secured € 2025-2027	30/11/2027	No Trades	99.50	100.00	4.62%	4.30%	99.5	22/10/2024	Secured
4.75% Dino Fino Finance plc Secured € 2033	19/11/2033	10,000	98.01	101.00	4.75%	4.75%	100	30/10/2024	Secured
4.75% Gap Group plc Secured € 2025 - 2027	22/12/2027	No Trades	99.00	100.00	5.10%	5.66%	99	23/10/2024	Secured
4.8% Mediterranean Maritime Hub Finance plc Unsecured € 2026	14/10/2026	13,000	99.60	99.79	4.91%	4.91%	99.79	30/10/2024	Unsecured
4.85% JD Capital plc Secured € 2032 S1 T1	25/11/2032	No Trades	100.00	101.00	4.85%	4.85%	100	28/10/2024	Secured
4.85% Melite Finance plc Secured € 2028	23/11/2028	No Trades	-	-	7.69%	7.69%	90	29/04/2024	Secured
5% CF Estates Finance plc Secured € 2028-2033	06/01/2033	No Trades	99.50	100.00	5.07%	5.17%	99.5	28/10/2024	Secured
5% Dizz Finance plc Unsecured € 2026	07/10/2026	No Trades	-	103.00	5.00%	5.00%	100	24/10/2024	Sr Unsecured
5% Hili Finance Company plc Unsecured Bonds 2029	17/07/2029	15,000	101.70	102.30	4.44%		102.3	30/10/2024
5% Izola Bank Unsecured Bonds 2032	15/09/2032	No Trades	-	99.90	5.00%	4.99%	100	27/09/2024	Subordinated
5% Mariner Finance plc Unsecured € 2032	16/12/2032	No Trades	101.75	105.00	4.73%	4.73%	101.75	28/10/2024	Unsecured
5% MeDirect Bank (Malta) Plc Sub Unsecured € 2022-2027	13/10/2027	No Trades	99.00	101.99	5.18%	5.18%	99.5	04/09/2024	Subordinated
5% MedservRegis plc Secured € 2029	20/12/2029	No Trades	100.50	-	4.77%	4.77%	101	29/10/2024	Secured
5% Von der Heyden Group Finance plc Unsecured € 2032	16/12/2032	15,000	100.20	101.00	4.85%	4.85%	100.95	30/10/2024	Unsecured
5.1% 1923 Investments plc Unsecured € 2024	04/12/2024	No Trades	-	100.00	4.98%	4.98%	99.99	11/09/2024	Sr Unsecured
5.1% 6PM Holdings plc Unsecured € 2025	31/07/2025	No Trades	99.00	101.00	6.42%	6.42%	99	15/10/2024	Unsecured
5.25% Bonnici Bros Properties plc Unsecured € 2033 S1 T1	03/04/2033	No Trades	100.01	103.00	4.80%	4.80%	103	28/10/2024	Unsecured
5.25% Central Business Centres plc Unsecured € 2025 S2T1	30/12/2025	No Trades	98.00	-	5.24%	5.24%	100	23/09/2024	Sr Unsecured
5.25% Mediterranean Investments Holding plc Unsecured € 2027	06/07/2027	No Trades	100.50	102.00	5.03%	5.03%	100.5	24/10/2024	Unsecured
5.25% Qawra Palace plc Secured € 2033	27/02/2033	No Trades	102.00	105.00	4.51%	4.51%	105	21/10/2024	Secured
5.3% Mercury Projects Finance plc Secured € Bonds 2034	10/09/2034	10,000	101.50	102.45	4.98%		102.45	30/10/2024
5.35% Hal Mann Vella Group plc Secured € 2031-2034	26/07/2034	No Trades	103.25	-	4.63%		105.5	22/10/2024
5.5% Juel Group plc € Secured 2035	27/06/2035	No Trades	-	103.97	5.00%	5.00%	104	02/10/2024	Secured
5.7% Merkanti Holding plc Secured € 2033	12/08/2033	No Trades	101.00	105.00	4.98%	4.98%	105	07/10/2024	Secured
5.75% Best Deal Properties Holding plc Secured € 2027-2029	12/04/2029	No Trades	103.50	104.00	4.85%		103.5	23/10/2024
5.75% International Hotel Investments plc Unsecured € 2025	13/05/2025	No Trades	99.60	100.00	5.60%	5.60%	100	29/10/2024	Sr Unsecured
5.75% Phoenicia Finance Company plc Unsec Bonds 2028-2033	30/12/2033	No Trades	104.00	105.50	5.16%	5.16%	104.85	29/10/2024	Unsecured
5.75% Plan Group plc Secured € Bonds 2028	23/11/2028	No Trades	101.10	104.00	4.64%	4.64%	104	16/10/2024	Secured
5.8% Agora Estates plc Secured € 2036 S1 T1	01/03/2036	No Trades	103.00	105.50	5.14%	5.14%	105.5	25/10/2024	Secured
5.8% APS Bank plc € Unsecured Subordinated 2028-2033 S1 T1	01/12/2033	10,000	104.00	105.00	5.17%	4.55%	104.5	30/10/2024	Subordinated
5.85% AX Group plc Unsecured € 2033 (xd)	11/6/2023	No Trades	-	-	5.01%	5.01%	106	15/10/2024	Unsecured
5.85% Burmarrad Group Assets plc € Secured Bonds 2034	14/05/2034	No Trades	105.00	107.50	5.25%	5.25%	104.95	18/10/2024	Secured
5.85% Mediterranean Investments Holding plc Unsecured € 2028	7/31/2023	No Trades	102.50	104.00	4.65%	4.65%	104.01	18/10/2024	Unsecured
5.9% Together Gaming Solutions plc Unsec Call Bds €2024-2026	22/07/2026	No Trades	-	100.00	5.88%	5.88%	100	28/10/2024	Unsecured
6% International Hotel Investments plc 2033 (xd)	14/11/2033	No Trades	105.50	106.00	5.22%	5.22%	105.5	29/10/2024	Unsecured
6% JD Capital plc Secured Bonds 2033 S2 T1	19/07/2033	No Trades	105.00	-	5.27%	5.27%	105	24/10/2024	Secured
6% Multitude Bank Plc Sub Unsecured € 2032 S1/22 T1	27/04/2032	No Trades	100.00	-	5.99%	5.99%	100	17/05/2024	Subordinated
6% Pharmacare Finance plc Unsecured € Bonds 2033	03/02/2033	No Trades	103.75	105.00	5.42%	5.42%	103.75	24/10/2024	Unsecured
6.25% AST Group plc Secured Bonds 2033	16/06/2033	No Trades	104.00	-	5.65%	5.65%	104	29/10/2024	Secured
6.25% Camilleri Finance plc € Unsecured Bonds 2034	23/02/2034	No Trades	104.50	106.00	5.76%	5.76%	104	11/10/2024	Unsecured
6.25% GPH Malta Finance plc Unsecured € 2030	10/03/2030	No Trades	-	104.50	5.26%	5.26%	104.5	17/10/2024	Unsecured

* 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% MeDirect Bank (Malta) plc Sub Unsecured £ 2024-2029 (xd)	05/11/2029	No Trades	-	100.00	4.80%	259.05%	96.5	20/05/2024	Subordinated
5% MeDirect Bank (Malta) Plc Sub Unsecured £ 2022-2027	13/10/2027	No Trades	-	-			0	-	Subordinated

* 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% MedservRegis plc Unsecured USD 2026	05/02/2026	No Trades	95.00	-	7.73%	7.73%	97.65	08/08/2024	Sr Unsecured

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

Government Bonds (#N/A)

Bond	Maturity	Volume Traded	Closing Price (Trading)	Central Bank Malta (Closing Bid Price)	Yield To Maturity (%) *
1.4% MGS 2024 (III) (xd)	7/29/2024	No Trades	99.90	-
3.3% MGS 2024 (I) (xd)	11/12/2024	No Trades	100.00	-

* Where more than one maturity date exists, YTM 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	No Trades	96.00	-	2.49%
0.25% MGS 2026 (III) (xd)	11/18/2026	No Trades	95.50	92.00	2.52%
0.4% MGS 2026 (II)	10/20/2026	No Trades	95.97	-	2.51%
0.40% MGS 2027 (IV) (xd)	11/19/2027	No Trades	93.59	-	2.60%
0.5% MGS 2025 (II) (xd)	11/8/2025	No Trades	98.13	93.10	2.36%
0.75% MGS 2025 (III)	7/17/2025	No Trades	98.91	-	2.30%
0.80% MGS 2027 (III)	4/29/2027	No Trades	95.79	-	2.55%
0.90% MGS 2027 (V)	8/12/2027	No Trades	95.52	-	2.58%
0.90% MGS 2031 (V)	7/11/2031	No Trades	87.82	-	2.92%
1.00% MGS 2031 (II)	4/23/2031	No Trades	88.88	-	2.89%
1.00% MGS 2035 (II)	8/23/2035	No Trades	79.39	-	3.28%
1.20% MGS 2037 (I) (xd)	5/13/2037	No Trades	77.86	-	3.38%
1.40% MGS 2046 (I)	8/20/2046	No Trades	65.38	-	3.73%
1.5% MGS 2027 (I)	6/15/2027	No Trades	97.31	94.00	2.57%
1.50% MGS 2045 (I)	10/22/2045	No Trades	68.02	-	3.71%
1.60% MGS 2032 (III) (xd)	5/3/2032	No Trades	90.71	-	2.99%
1.70% MGS 2028 (IV)	8/4/2028	No Trades	96.59	-	2.66%
1.8% MGS 2051 (I)	8/28/2051	No Trades	65.32	-	3.90%
1.85% MGS 2029 (III)	5/30/2029	No Trades	96.25	-	2.73%
2.00% MGS 2051 (II)	7/10/2051	No Trades	68.77	-	3.89%
2.1% MGS 2039 (I)	8/24/2039	No Trades	83.64	-	3.53%
2.10% MGS 2032 (IV)	4/15/2032	No Trades	94.11	-	2.99%
2.2% MGS 2035 (I)	11/24/2035	No Trades	89.96	-	3.29%
2.3% MGS 2029 (II)	7/24/2029	No Trades	98.07	98.02	2.74%
2.4% MGS 2041 (I)	7/25/2041	No Trades	85.21	80.99	3.58%
2.40% MGS 2052 (I)	8/13/2052	No Trades	74.35	-	3.92%
2.5% MGS 2036 (I) (xd)	11/17/2036	No Trades	91.62	88.00	3.35%
2.60% MGS 2028 (V) (xd)	5/22/2028	No Trades	99.86	-	2.64%
2.60% MGS 2047 (I)	9/27/2047	No Trades	82.06	78.30	3.78%
2.80% MGS 2030 (III) A	2/27/2030	No Trades	100.05	-	2.79%
2.90% MGS 2032 (VI)	10/24/2032	No Trades	99.05	-	3.03%
3% MGS 2040 (I)	6/11/2040	26,900	93.31	95.00	3.56%
3.15% MGS 2027 (VII) (xd)	5/20/2027	5,000	101.45	101.45	2.55%
3.15% MGS 2027 (VII) r (xd)	5/20/2027	No Trades	99.70	-	3.26%
3.25% MGS 2034 (IV) A	9/5/2034	No Trades	100.35	-	3.21%
3.25% MGS 2034 (IV) r	9/5/2034	No Trades	100.35	100.35	3.21%
3.35% MGS 2029 (V)	11/27/2029	10,100	102.74	-	2.76%
3.35% MGS 2029 (V) r	11/27/2029	No Trades	100.02	-	3.34%
3.4% MGS 2027 (VI)	9/24/2027	No Trades	102.25	-	2.59%
3.40% MGS 2042 (I)	8/26/2042	20,000	97.23	98.00	3.61%
3.50% MGS 2028 (VI)	7/7/2028	No Trades	102.95	102.95	2.65%
3.50% MGS 2034 (III) A	7/31/2034	No Trades	102.51	102.00	3.20%
3.50% MGS 2034 (III) r	7/31/2034	No Trades	102.51	101.90	3.20%
3.55% MGS 2026 (V)	7/8/2026	27,000	101.74	101.74	2.49%
3.55% MGS 2026 (V) I (xd)	08/07/2026	No Trades	101.29	-	3.01%
3.55% MGS 2026 (V) R	08/07/2026	No Trades	101.29	-	3.01%
3.7% MGS 2030 (II)	11/25/2030	No Trades	104.65	-	2.86%
3.75% MGS 2033 (III)	8/17/2033	No Trades	104.88	-	3.11%
3.85% MGS 2026 (VI)	8/5/2026	No Trades	102.32	-	2.50%
3.95% MGS 2028 (VII)	8/8/2028	No Trades	104.59	-	2.66%
4% MGS 2032 (VII)	3/30/2032	No Trades	106.72	106.72	2.98%
4.00% MGS 2033 (IV)	12/5/2033	No Trades	106.77	-	3.14%
4.00% MGS 2033 (IV) I	05/12/2033	No Trades	103.34	-	3.60%
4.00% MGS 2033 (IV) R	05/12/2033	No Trades	103.34	-	3.60%
4.00% MGS 2038 (I)	8/25/2038	No Trades	105.85	108.00	3.46%
4.00% MGS 2043 (I)	11/26/2043	12,000	104.74	102.75	3.65%
4.1% MGS 2034 (I)	10/18/2034	1,000	107.46	104.10	3.22%
4.3% MGS 2033 (I)	8/1/2033	No Trades	109.08	109.15	3.11%
4.30% MGS 2038 (II)	11/15/2038	No Trades	109.07	-	3.48%
4.45% MGS 2032 (II)	9/3/2032	No Trades	109.89	-	3.02%
4.5% MGS 2028 (II)	10/25/2028	No Trades	106.84	-	2.68%
4.65% MGS 2032 (I)	7/22/2032	1,300	111.21	-	3.01%
4.8% MGS 2028 (I)	9/11/2028	No Trades	107.77	-	2.67%
5.1% MGS 2029 (I)	10/1/2029	No Trades	110.71	-	2.76%
5.2% MGS 2031 (I)	9/16/2031	No Trades	114.01	-	2.93%
5.25% MGS 2030 (I)	6/23/2030	No Trades	112.59	-	2.82%
7% MGS 2025 (I) R	12/31/2025	No Trades	113.51	-	2.38%
7% MGS 2026 (I) R	12/31/2026	No Trades	117.40	-	2.51%
7% MGS 2032 (V) R	12/31/2032	No Trades	134.96	-	3.03%

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