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    FGN Bonds Yields Rise for Most Maturities amid Renewed Sell-Pressure…

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    Naija247news Editorial Teamhttps://www.naija247news.com/
    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 value of FGN bonds was bearish for most maturities we tracked in the secondary market amid renewed sell-pressure.

    Particularly, the 10-year 13.98%
    FGN MAR 2028 debt, 10-year 16.29% FGN
    MAR 2027 bond and the 20-year 16.25% FGN
    MAR 2037 paper lost N1.28, N1.05 and N0.28
    respectively; their corresponding yields rose to 11.85% (from 11.56%), 11.98% (from 11.76%) and 12.99% (from 12.95%) respectively.

    However, the 5-year, 13.53% FGN APR 2025
    paper increased by N0.02 and its corresponding yield fell to 9.60% (from 9 .62%).

    Elsewhere, the value of FGN Eurobonds traded at the international capital market depreciated for all maturities tracked; the 10-year, 6.375% JUL 12, 2023 bond, the 20-year, 7.69% FEB 23, 2038 paper and the 30-year, 7.62% NOV 28, 2047 debt lost USD0.71, USD4.12 and USD4.74 respectively; their corresponding yields rose to 4.65% (from 4.22%), 8.87% (from 8.37%) and 8.96% (from 8.45%) respectively.

    In the new week, we expect local OTC bond prices to rise (and yields to decrease) as traders react to lower rates,
    especially for the 364-day T-bills.

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