In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment appreciated for most maturities tracked: the 20-year, 10% FGN JULY 2030 note, 10-year, 16.39% FGN JAN 2022 debt, and 5-year, 14.50% FGN JUL 2021 bond increased by N1.48, N0.09 and N0.42 respectively; their corresponding yields moderated to 15.27% (from 15.63%), 14.99% (from 15.03%) and 15.47% (from 15.67%) respectively; however, 7-year, 16.00% FGN JUN 2019 paper fell by N0.13 and its corresponding yield rose to 13.61% (from 13.44%).
Thank you for reading this post, don't forget to subscribe!Elsewhere, the value of the FGN Eurobonds traded at the international capital market fell for all maturities tracked amid sustained bearish activity – 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 moderated by USD0.20, USD0.21 and USD0.63 respectively; their corresponding yields rose to 7.50% (from 7.44%), 8.81% (from 8.78%) and 9.21% (from 9.14%) respectively.
In the new week, we expect FGN bond prices to increase (with corresponding fall in yields) at the OTC market amid expected ease in financial system liquidity.