OTC FGN Bonds Prices Fall amid Renewed Sell-Offs…

Date:

BOND MARKET: In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment fell for all maturities tracked amid renewed sell pressure: the 20-year, 10% FGN JULY 2030, 10-year, 16.39% FGN JAN 2022 debt, 7-year, 16.00% FGN JUN 2019 and 5year, 14.50% FGN JUL 2021 bond prices decreased by N0.14, N0.54, N0.58 and N0.63 respectively; their corresponding yields rose to 15.79% (from 15.75%), 15.01% (from 14.80%), 14.87% (from 13.85%) and 15.76% (from 15.44%) respectively.

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Elsewhere, the value of the FGN Eurobonds traded at the international capital market tanked for all maturities tracked amid sustained decline in global crude oil prices – the 10-year, 6.75% JAN 28, 2021 bond, the 10-year, 6.38% JUL 12, 2023 note and the 15-year, 6.50% NOV 28, 2027 paper fell by USD5.71, USD7.92 and USD2.38 respectively; their corresponding yields rose to 7.54% (from 6.11%), 8.91% (from 7.53%) and 9.14% (from 8.60%) respectively.

In the new week, amid anticipated increase in financial system liquidity, we expect higher bond prices at the OTC bonds market amid bargain hunting opportunties..

Godwin Okafor
Godwin Okaforhttps://naija247news.com
Godwin Okafor is a veteran Financial Journalist, Internet Social Entrepreneur, and the visionary Founder of Naija247news Media Limited. With an extensive career spanning over 16 years in financial journalism, Godwin possesses a wealth of experience that seamlessly bridges both traditional and digital media landscapes. His journey in journalism commenced at Business Day, Nigeria, where he laid the foundation for his prolific career. In 2010, Godwin took a bold step by founding Naija247news Media, a platform that has since become a prominent player in delivering timely and accurate news. Educationally, Godwin Okafor holds a Bachelor's degree in Industrial Relations and Personnel Management from the prestigious Lagos State University, Ojo, Lagos. His commitment to continuous learning led him to the Lagos Business School, where he further honed his skills. Additionally, he is recognized as a Fellow of the University of Pennsylvania, having successfully completed the Wharton Seminar for Business Journalists. Throughout his illustrious career, Godwin has earned acclaim by winning numerous journalism awards, a testament to his dedication to excellence in reporting. Beyond his role as a Financial Journalist, Godwin Okafor wears the hat of the Chairman at Emmerich Resources Limited, the publishing entity behind Naija247news. His visionary leadership has played a pivotal role in shaping the media landscape and establishing Naija247news as a trusted source of information. Godwin Okafor's multifaceted expertise, commitment to journalistic integrity, and leadership in the realm of business journalism underscore his influential presence in both the media and entrepreneurial spheres.

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