Thursday, July 29, 2021

    FGN Bond Yields Rise for Most Maturities Tracked amid Bearish Trend…

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    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 Bond tracked decreased as yields rose for most maturities tracked amid sell pressure.

    Specifically, the 5-year, 14.50% FGN JUL 2021, 7-year 13.53% FGN APR 2025 and 10-year 16.29% FGN MAR 2027 lost N0.20, N0.40 and N0.46 respectively; their corresponding yields rose to 3.82% (from 3.81%), 11.67% (from 11.54%) and 12.25% (from 12.16%) respectively.

    However, the 20-year, 16.25%
    FGN MAR 2037 gained N1.05 while its yield
    decreased to 12.77%(from 12.90%).

    Meanwhile, the value of FGN Eurobonds traded at the international capital market increased for most maturities tracked: the 20-year, 7.69% FEB 23, 2038 paper and the 30-year, 7.62% NOV 28, 2047 debt gained USD0.11 and USD0.46 respectively as their corresponding yields fell to 7.46% (from 7.47%) and 7.61% (from 7.66%) respectively.

    However, the 10-year, 6.375% JUL 12, 2023 lost USD0.16 while its yield rose to 2.84%(from 2.79%).

    In the new week, we expect local OTC bond prices to increase (and yields to moderate) as over N400 billion, 5- year bond issued in 2016 matures.

    Hence, we expect the liquidity boost to stimulate buy pressure.

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