FGN Bond Yields Move in Mixed Directions as Investors Aim Better Yields…


In the just concluded week, values of FGN bonds traded at the over-the-counter (OTC) segment
moved in mixed directions across maturities tracked as investors jostle for better yields: the 7-
year, 13.53% FGN MAR 2025 note and the 10- year, 16.29% FGN MAR 2027 debt rose by N0.75 and N0.78 respectively; their corresponding
yields decreased to 9.91% (from 10.09%), 10.40% (from 10.54%) respectively.

However, value of the 5-year, 14.50% FGN JUL 2021 paper
and the 20-year, 16.25% FGN APR 2037 bond fell by N0.52 and N1.03; their corresponding yields rose to 7.35% (from 7.08%) and 11.34% (from 11.23%) respectively.

Elsewhere, the value of FGN Eurobonds traded at the international capital market appreciated for most maturities tracked amid renewed bullish activity – the 20-year, 7.69% FEB 23, 2038 paper and the 30-year, 7.62% NOV 28, 2047 bond, gained USD1.11 and USD1.24 respectively; their corresponding yields fell to 7.55% (from 7.66%) and 7.74% (from 7.85%) respectively.

However, the 10-year, 6.75% JAN 28, 2021 note lost USD0.06, its yield rose to 3.17% (from

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