Chapter 6: Bonds Screener Guide
The Bonds Screener allows you to explore and compare
corporate bonds and Malta Government Stocks (MGS).
This guide builds on the Equities Screener Guide and helps you understand fixed-income investments in detail.
Progress: Chapter 6 of 16
📌 What You Will Learn
- What bonds are and how they work
- The difference between corporate bonds and government stocks
- How to use bond filters
- How to interpret yield, duration and risk
💰 What is a Bond?
A bond is a loan you give to an issuer (a company or government) in exchange for:
- Regular interest payments (coupon)
- Return of your principal at maturity
Unlike equities, bonds do not represent ownership — they represent debt.
🇲🇹 Malta-Specific Terminology
In Malta, you may hear:
- Government Stocks
- MGS (Malta Government Stocks)
These are simply government bonds.
💡 Despite the name “stocks”, Malta Government Stocks are not equities — they are bonds.
🏢 Types of Bonds
🏛️ Government Bonds (MGS)
- Issued by the government
- Generally lower risk
- Lower yields
🏢 Corporate Bonds
- Issued by companies
- Higher risk
- Higher potential returns
Explore both here:
Open Bonds Screener
⚙️ How the Bonds Screener Works
The screener includes:
- 🔎 Search bar
- 🎛️ Filters
- 📊 Range sliders
- 📑 Custom columns
It allows you to quickly compare bonds based on yield, risk and structure.
📊 Key Bond Filters Explained
💸 Coupon
The fixed interest rate paid by the bond.
📈 Yield to Maturity (YTM)
The total expected return if held until maturity.
Includes:
- Coupon payments
- Capital gain/loss
Higher YTM may indicate higher risk.
💰 Current Yield
Income relative to current price.
Current Yield = Annual Coupon / Price
⏳ Duration
Measures sensitivity to interest rate changes.
- Higher duration → more sensitive
- Lower duration → more stable
📉 Convexity
Refines duration by measuring how sensitivity changes as rates move.
Used for more advanced bond analysis.
📊 Credit Spread
The difference in yield between a bond and a risk-free benchmark.
- Higher spread → higher perceived risk
- Lower spread → safer bond
📦 Amount Outstanding
Total size of the bond issue.
Larger issues tend to have better liquidity.
⚖️ Debt Metrics
- Debt/Equity
- Debt/Assets
- Interest Cover
These indicate the issuer’s financial strength.
Learn more:
Balance Sheet Guide
🧠 How to Use Filters Strategically
Example 1: Low-Risk Investor
- Government bonds
- Low credit spread
- Short duration
Example 2: Income-Focused Investor
- High yield
- Stable issuers
Example 3: Higher Return Strategy
- Corporate bonds
- Higher YTM
- Accept higher risk
➡️ From Screener to Analysis
Clicking a bond takes you to its detail page:
Example:
- /bonds/BV33A
You can then:
- View financial metrics
- Analyse performance
- Review issuer strength
Learn more:
Company & Security Pages Guide
⚠️ Common Mistakes
- Focusing only on yield
- Ignoring credit risk
- Not understanding duration
- Assuming government bonds are risk-free in all scenarios
💡 Higher yield almost always comes with higher risk.
🔗 Related Guides
⬅️ Previous:
5. Equities Screener
➡️ Next:
7. Company Pages