Sunday, September 26, 2021

    FGN Bond Yields Fall Further for All Maturities Tracked on Sustained Bullish Activity…

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    Naija247news Editorial Team
    Naija247news is an investigative news platform that tracks news on Nigerian Economy, Business, Politics, Financial and Africa and Global Economy.

    In the just concluded week, the values of FGN bonds traded at the over-the-counter (OTC) segment appreciated for all maturities tracked amid sustained 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 N0.21, N3.42, N2.24 and N1.49 respectively; their corresponding yields fell to 2.34% (from 2.81%), 5.16% (from 5.91%), 7.72% (from 8.09%) and 9.90% (from 10.04%) respectively.

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

    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 lost USD0.10, USD2.62 and USD3.17 respectively; while their corresponding yields increased to 4.31% (from 4.17%), 8.10% (from 7.81%) and 8.19% (from 7.89%) respectively.

    In the new week, we expect the value of FGN Eurobonds prices to appreciate (and yields to moderate), amid declining local bonds yields which are currently below 10%.

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