The yield curve of the government bonds of the republic of Uzbekistan

Аннотация

A well-functioning government securities market can enhance overall liquidity in the broader bond market. Government bonds come in a range of maturities and are actively traded, enabling the establishment of a risk-free yield curve. Recently issued bonds, termed "on-the-run securities," are typically more liquid than older bonds. Furthermore, developed repurchase (repo) and derivatives markets allow investors to take speculative positions on sovereign debt, reflecting their expectations regarding future interest rates, economic growth, inflation, and government funding needs, thereby improving liquidity in the bond market.