Long-term government treasury bonds (GKO) with a three-year maturity became the most relevant for investors. In the short-term segment, government treasury bills (GKV) with a maturity of 12 months continued to dominate.
The total volume of GKO sales on the National Bank platform amounted to 30.5 billion soms, which is 64.5% lower compared to the second quarter of 2025. This decrease is attributed to the high base of the previous period, including the placement of 15-year GKOs. The weighted average yield on GKOs at the regulator's platform increased to 11.00%, marking a rise of 1.34 percentage points for the quarter.
On the "KFB" platform, the volume of sales of government securities during the reporting period amounted to 2.6 billion soms, which is an increase of 4.8 times compared to the second quarter. Meanwhile, the weighted average yield slightly decreased to 13.01%, down by 0.09 percentage points.
