Public bonds as a financial market instrument: 
legal aspect

The article examines the relationship between financial and legal and civil law elements in the regulation of public relations related to the issuance and circulation of public bonds. It is noted that, as a form of public debt, state and municipal bonds are regulated by budgetary legislation. However, since bonds are traded on the financial market, the question arises as to the relationship between the norms regulating relations related to the functioning of the entire financial market as a whole and the norms establishing the specific features of the circulation of public bonds. The article also considers the issue of the sufficiency of civil law regulation in terms of fulfilling the obligations of a public entity regarding bonds.