Sunday, January 23, 2022

    FGN Bonds Yields Move in Mixed Directions Across Maturities Tracked…

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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 value of FGN bonds moved in mixed directions across
    maturities tracked.

    Specifically, the 10-year 13.98% FGN MAR 2028 debt and the 10-year 16.29% FGN MAR 2027 bond gained N0.32 and N0.54 respectively; their corresponding
    yields fell to 11.76% (from 11.85%) and
    11.86% (from 11.98%) respectively amid buy

    However, the 5-year, 13.53% FGN
    APR 2025 paper and the 20-year 16.25% FGN
    MAR 2037 paper moderated by N3.01 and
    N0.58; their corresponding yields rose to 10.61% (from 9.60%) and 13.06% (from 12.99%) amid sell-offs.

    Elsewhere, the value of FGN Eurobonds traded at the international capital market appreciated for all maturities tracked on renewed buy interest; 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 gained USD0.03, USD1.37 and USD1.86 respectively; their corresponding yields rose to 4.61% (from 4.65%), 8.70% (from 8.87%) and 8.76% (from 8.96%) respectively.

    In the new week, we expect the value of FGN Eurobonds to rise (and yields to decrease) as rates in this space appear very attractive at close to 9%.

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