OTC FGN Bond Yields Fall for Most Maturities Tracked amid Sustained Bullish Activity…


In line with our expectations, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated further for most maturities tracked amid sustained buy pressure: the 5-year, 14.50% FGN JUL 2021 paper, the 10-year, 16.29% FGN MAR 2027 debt and the 20-year, 16.25% FGN APR 2037 bond gained N0.80, N3.48 and N0.03 respectively; their corresponding yields fell further to 5.24% (from 5.99%), 11.51% (from 12.18%) and 12.29% (from 12.30%) respectively.

However, the 7-year, 13.53% FGN MAR 2025 note lost N0.04, its corresponding yield rose to 10.96% (from 10.61%).

Elsewhere, the value of FGN Eurobonds traded at the international capital market depreciated for most maturities tracked amid renewed bearish activity.

The 20-year, 7.69% FEB 23, 2038 paper and 30-year, 7.62% NOV 28, 2047 debt lost USD6.51 and USD6.54; while their corresponding yields rose to 10.99% (from 10.75%) and 10.63% (from 10.29%) respectively.

However, the 10-year, 6.75% JAN 28, 2021 bond gained USD0.65, its corresponding yield fell to 13.31% (from 13.66%),

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