Wednesday, June 23, 2021

    FGN Bond Prices Decrease for Most Maturities Tracked amid Bearish Activity…

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    Anene Peters, Editor Naija247news
    Anene Peters is an intern with Naija247news Media. He's focus is on tech and science. He's a graduate of Abia State University with a major in Computer Science and Communications. You can contact him for press events on 0903 927 6505

    In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment depreciated (and yields increased) for most maturities tracked amid sustained bearish activity: the 5-year, 14.50% FGN JUL 2021 paper and the 20-year, 16.25% FGN APR 2037 bond tanked by N0.07 and N0.77 respectively; their corresponding yields increased to 14.94% (from 14.90%) and 14.56% (from 14.45%) respectively; however, the 10-year, 16.29% FGN MAR 2027 debt rose by N1.04, and its corresponding yield fell to 14.47% (from 14.49%) while 7-year, 13.53% FGN MAR 2025 note was flattish, and its corresponding yield stood at 14.25%.

    Elsewhere, the value of the FGN Eurobonds traded at the international capital market appreciated for all maturities tracked amid bargain hunting activity – the 10-year, 6.75% JAN 28, 2021 paper, the 20-year, 7.69% FEB 23, 2038 and 30-year, 7.62% NOV 28, 2047 bonds gained USD0.04, USD0.80 and USD0.88 respectively; their corresponding yields fell to 4.92% (from 4.96%), 7.79% (from 7.87%) and 7.90% (from 7.98%) respectively.

    In the new week, Debt Management Office will issue bonds worth N100.00 billion, viz: 12.75% FGN APR 2023 (5-Yr Re-opening) worth N40 billion, FGN APR 2029 (10-Yr New Issue) worth N40 billion and FGN APR 2049 (30-Yr Re-opening) worth N20 billion respectively. We expect the bonds to be issued at lower stop rates amid demand pressure.

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