FGN Bond Yields Rise for Most Maturities Tracked amid Sustained Bearish Activity…

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In the just concluded week, the values of FGN bonds traded at the over-the-counter (OTC) segment depreciated for most maturities tracked amid sustained bearish activity: the 5-year, 14.50% FGN JUL 2021 paper and the 7-year, 13.53% FGN MAR 2025 note, lost N1.01 and N3.25 respectively; their corresponding yields rose to 5.21% (from 4.53%) and 10.13% (from 9.36%) respectively.

However, the 10-year, 16.29% FGN MAR 2027 debt gained N1.09, its yield fell to 10.97% (from 11.18%).

The 20-year, 16.25% FGN APR 2037 bond remained unchanged and its yield flattish at 11.55%.

Elsewhere, the value of FGN Eurobonds traded at the international capital market depreciated for most maturities tracked amid bearish activity.

The 20-year, 7.69% FEB 23, 2038 paper and 30-year, 7.62% NOV 28, 2047 debt lost USD0.59 and USD1.34; while their corresponding yields rose to 10.26% (from 10.17%) and 9.93% (from 9.76%) respectively.

However, the 10-year, 6.75% JAN 28, 2021 bond gained USD1.18; its corresponding yield fell to 9.33% (from 11.06%).

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