Analysis of the potential of Russian stocks and bonds as savings instruments

Subject. Stock indices of the Moscow Stock Exchange. Objectives. To analyze the returns of Russian stocks and bonds and their resilience to market shocks; to build models for assessing the impact of external factors on the value of selected assets; and to examine the returns of selected assets adjusted for national inflation. Methods. Vector autoregression models were constructed. Methods of statistical and econometric analysis, description, and graphical modelling were used. Results. It has been established that in the Russian context, there are financial assets that are sufficiently stable for building long-term savings and offer returns that, at minimum, compensate for national inflation over the long term – if not exceed it. Conclusions. Under stable economic conditions in the country, long-term investment in Russian financial assets is an effective way to build savings even in the face of shocks. These findings can be applied when studying the prospects for constructing financial portfolios for Russian retail investors.