This week’s bond is from the city of Volgograd and has an effective YTM of 8.18% and is payable in Russian Rubles. It matures in 778 days. Volgograd is a city of over a million people, being the most important metro area of the lower Volga region in Russia. The yield is especially attractive when considering the fact of the stability and liquidity of the economy in general plus assuming the dollar will conservatively fall 1-2% over the coming year over the Ruble, returns should only be enhanced.