Tuesday, April 20, 2021
HomeGeneral InterestFGN Bond Yields Fall for Most Maturities amid Renewed Bullish Activity…

FGN Bond Yields Fall for Most Maturities amid Renewed Bullish Activity…

In the just concluded week, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated for most maturities tracked amid renewed bullish activity.

Specifically, the 5-year, 14.50% FGN JUL 2021 bond, the 7-year, 13.53% FGN MAR 2025 note, the 10-year, 16.29% FGN MAR 2027 debt and the 20-year, 16.25% FGN APR 2037 debt gained N0.05, N1.37, N0.05 and N0.39 respectively; their corresponding yields fell to 2.81% (from 2.99%), 5.91% (from 6.23%), 8.09% (from 8.11%) and 10.04% (from 10.07%) respectively.

Meanwhile, the value of FGN Eurobonds traded at the international capital market appreciated for all maturities tracked in line with our expectation.

The 10-year, 6.75% JAN 28, 2021 bond, the 20-year, 7.69% FEB 23, 2038 paper and the 30-year, 7.62% NOV 28, 2047 debt gained USD0.06, USD2.11 and USD2.21 respectively; while their corresponding yields lowered to 4.17% (from 4.45%), 7.81%
(from 8.04%) and 7.89% (from 8.10%) respectively.

In the new week, we expect the value of FGN bonds prices to appreciate (and yields to moderate), amid increasing
demand for fixed income securities with relatively higher yields.

Naija247news Nigeriahttps://www.naija247news.com/
Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.
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