WeekAheadBond: FGN Bond price seen mellow amid expected bearish activity

Date:

As Bond Prices Sink on Renewed Profit Taking…

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In the just concluded week, the value of FGN bonds traded at the over-the-counter (OTC) segment depreciated (and yields rose) across the maturities tracked against the backdrop of strain in financial system liquidity.

Specifically, 5-year, 14.50% FGN JUL 2021 paper, the 7-year, 13.53% FGN MAR 2025 bond, the 10-year, 16.29% FGN MAR 2027 debt and the the 20-year, 16.25% FGN APR 2037 instrument softened by N1.28, N0.97, N0.62 and N0.24 respectively; their corresponding yields rose to 14.64% (from 13.91%), 14.53% (from 14.27%), 14.37% (from 14.24%) and 14.54% (from 14.51%) respectively.

Elsewhere, the value of the FGN Eurobonds traded at the international capital market recovered for most maturities tracked amid renewed bargain hunting – the 20-year, 7.69% FEB 23, 2038 and the 30-year, 7.62% NOV 28, 2047 bonds gained USD2.30 and USD3.49 respectively; their corresponding yields fell to 8.10% (from 8.35%) and 8.20% (from 8.55%) respectively.

In the new week, in the absence of any major inflows, we expect FGN bond prices to mellow (with corresponding rise in yields) at the OTC market amid expected bearish activity.

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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