Today we are in a space of instability of financial life.

Therefore, we should choose financial instruments that will follow events less aggressively.

Now government bonds with a floating coupon and linked to inflation offer good prospects.

Floating coupon bonds are linked to the Central Bank's key rate and the liquidity of the banking sector.

Thus, it is useful to calculate the yield of the Central Bank's key rate for a certain period.

I choose as the starting point the point from which the course began to grow.

Figure 1.

So, we got for period =1,301854

In annual terms, it is equal to= 1,0821885

Figure 2.

Inflation gives us a little more.

= 1,303912 or 1,087399 in annual terms.

Figure 3.

Inflation-linked bonds lag behind inflation by three months and, accordingly, give a slightly lower result than inflation during this period.

=1,291718

= 1,0802054

Figure 4.

Yes, but linker has a 2.5% coupon over inflation!

Thus, for some long period, linkers are ahead of the Central Bank's key rate.